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Prepare annual adjusting entries (from 8 points below), income statement for 2010, a statement of owner's equity, and a classified balance sheet with supporting info.

Prepare annual adjusting entries (from 8 points below), income statement for 2010, a statement of owner's equity, and a classified balance sheet with supporting info. given: Yorkis Perez, Consulting Engineer Trial Balance December 31, 2010 Cash $29,500 Accounts Receivable 49,600 Allowance for Doubtful Accounts $750 Engineering Supplies Inventory 1,960 Prepaid Insurance 1,100 Furniture and Equipment 25,000 Accumulated Depreciation- Furniture and Equipment 6,250 Notes Payable 7,200 Yorkis Perez, Capital 35,010 Service Revenue 100,000 Rent Expense 9,750 Office Salaries Expense 30,500 Heat, Light, and Water Expense 1,080 Misc. Office Expense 720 $149,210 $149,210 1. Fees received in advance from clients $6,000. 2. Services performed for clients that weren't recorded by 12/31 $4,900. 3. Bad debt expense for year $1,430. 4. Insurance expired during year $480. 5. Furniture and equipment is being depreciated at 10% during year. 6. Yorkis Perez gave bank 90-day, 10% note for $7,200 on 12/1/10. 7. Rent of building is $750 per month. Rent for 2010 has been paid, as has that for 1/11. 8. Office salaries earned but unpaid 12/31/10 $2,510. Also, Yorkis Perez withdrew $17,000 cash for personal use during year

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