Problem 3-3A (Part Level Submission) Everett Co, was organized on July 1, 2015. Quarterly financial statements are prepared. The unadjusted and adjusted trial balances as of September 30 are shown below. EVERETT CO. Trial Balance September 30, 2015 Unadjusted Adjusted 8,616 11,548 613 1,230 18,240 8,616 10,371 1,543 2,184 18,240 Accounts Receivable Supplies Prepaid Rent $ 732 9,400 2,468 Notes Payable Accounts Payable Salaries and Wages Payable Interest Payable Unearned Rent Revenue Common Stock 9,400 2,468 1,063 22,430 1,895 22,430 1,597 1,597 Service Revenue Rent Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Supplies Expense Utilities Expense Interest Expense 16,222 17,399 2,262 7,900 1,876 8,637 2,830 732 930 1,518 1,518 53,845 53,845 56,585 $ 56,585 Your answer is correct. Journalize the annual adjusting entries that were made. (Credit a Date Account Titles and Explanation Debit Credit Sept. 30 Accounts Receivable ervice Revenue (To record accrued revenue.) Sept. 30 TRent Expens 54 repaid Ren (To record prepaid rent.) 30 ) Sept. 30 TSupplies Expense Supplies 30 (To record supplies used.) Sept. 30 Depreciation Expense ccumulated Depreciation-Equipment (To record depreciation.) 32 Sept3st Expense nterest Payable (To record interest.) Sept. 3dunearnedRent Revenue 1932 ent Revenue (To record unearned rent revenue.) sept. 30 Salaries and Wages Expense Sa aries and Wages Payable (To record accrued salaries.) Your answer is correct Prepare an income statement for the 3 months ending September 30, 2015 EVERETT CO. Income Statement For the Quarter Ended September 30, 2015 evenues ervice Revenu ent Revenue 17399 262 19661 Total Revenues xpenses Salaries and Wages Expensel $8637 830 32 30 1518 4 ent Expense epreciation Expense Supplies Expense Utilities Expense nterest Expense 4741 otal Expenses 920 Net Income/ (Loss 1 Your answer is correct. Prepare a statement of retained earnings for the 3 months ending September 30, 2015. earnings first.) EVERETT CO. Retained Earnings Statement For the Quarter Ended September 30, 2015 920 4920 1597 Retained Earnings, September 30, 2015$3323 Retained Earnings, July 1, 2015 dd: Net Income/(Loss Less: Dividends Your answer is correct. Prepare a balance sheet at September 30. (List assets in order of liquidity.) EVERETT CO. Balance Sheet September 30, 2015 Assets 8616 11548 13 230 ccounts Receivable uppliesl repaid Rent $18240 LessJAccumulated Depreciation-Equipment 39515 otal Assets Liabilities and Stockholders' Equity iabilities Accounts Payable Notes Payable Salaries and Wages Payable $2468 400 37 nterest Payable nearned Rent Revenue otal Liabilities tockholders' Equity 13762 Common Stock 2430 ketained Earnings 323 3 $39515 fotal Stockholders' Equity 575 total Liabilities and Stockholders' Equity If the note bears interest at 12%, how many months has it been outstanding? Note has been outstanding for month(s)