Problem (60 min) The trial Balance of Renee Greenspan Productions at December, 31, 2015, follows RENEE GREENSPAN PRODUCTIONS Trial Balance December,31,2015 Dr Cr Cash $ 4,370 Accounts Receivable 10,340 Supplies 560 Prepaid insurance 1,790 Furniture 27,410 Accumulated depreciation Furniture 1,480 Building 53,900 Accumulated depreciation building 34,560 Land 18,700 Accounts payable 14,730 Salary payable Unearned service revenue 8,800 Note payable, long term 18,700 Share capital 29,990 Dividends 3,800 Service revenue 16,970 Depreciation expense furniture Depreciation expense building Salary expense 2,170 Insurance expense Utilities expense 1,130 Advertising expense 1,060 Supplies expense Total $125,230 $125,230 Additional Data at December ,31,,2015 Depreciation furniture,$480 building $460 Accrued salary expense ,$420 Supplies on Hand , $410 Prepaid insurance expired during December $390 Unearned service revenue earned during December $4,400 Accrued advertising expense ,$60 ( credit accounts payable ) Accrues service revenue ,$1,300 Required Prepare and journalise the adjusting entries in the general journal as on December 31 Complete the partial work sheet that follows on the next page by entering the adjusting entries in the adjustment columns, and prepare an adjusted trial balance Prepare the financial statement at December 31, the income statement and the statement of Retained Earnings and classified Financial Position Use report form Journalise the closing entries Prepare post closing trial balance

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Problem - (60 min) The trial Balance of Renee Greenspan Productions at December, 31, 2015, follows RENEE GREENSPAN PRODUCTIONS Trial Balance December,31,2015 Dr Cr Cash

Problem - (60 min)

The trial Balance of Renee Greenspan Productions at December, 31, 2015, follows

RENEE GREENSPAN PRODUCTIONS

Trial Balance

December,31,2015

Dr Cr

Cash $ 4,370

Accounts Receivable 10,340

Supplies 560

Prepaid insurance 1,790

Furniture 27,410

Accumulated depreciation- Furniture 1,480

Building 53,900

Accumulated depreciation building 34,560

Land 18,700

Accounts payable 14,730

Salary payable

Unearned service revenue 8,800

Note payable, long term 18,700

Share capital 29,990

Dividends 3,800

Service revenue 16,970

Depreciation expense- furniture

Depreciation expense-building

Salary expense 2,170

Insurance expense

Utilities expense 1,130

Advertising expense 1,060

Supplies expense

Total $125,230 $125,230

Additional Data at December ,31,,2015

Depreciation : furniture,$480 ; building $460

Accrued salary expense ,$420

Supplies on Hand , $410

Prepaid insurance expired during December $390

Unearned service revenue earned during December $4,400

Accrued advertising expense ,$60 ( credit accounts payable )

Accrues service revenue ,$1,300

Required:

Prepare and journalise the adjusting entries in the general journal as on December 31.

Complete the partial work sheet that follows on the next page by entering the adjusting entries in the adjustment columns, and prepare an adjusted trial balance.

Prepare the financial statement at December 31, the income statement and the statement of Retained Earnings and classified Financial Position. Use report form.