Question 1: Chapter 4 Question The following is the trial balance and adjustment data for Kal's Moving Co. Kal's Moving Co. Trial Balance March 31, 2022 Cr. Dr. 2,000 2,200 1,800 14,000 Cash Prepaid Insurance Moving Supplies Moving Truck Accumulated Depreciation, Moving truck Accounts Payable K. Homer, Capital K. Homer, Withdrawals Revenue from Moving Wage Expense Rent Expense Advertising Expense Totals 4,500 2,768 10,108 1,600 8,900 3,676 600 400 26.276 26.276 Adjustment Data to use to Adjust the Trial ce: A. Insurance expired, $450. B. Moving supplies on hand, $700. C. Depreciation on moving truck, $550. D. Wages earned but unpaid, $275. Question 1 part a. Complete a worksheet for Kal's Moving Co. for the month of March. (20 marks) Question 1 part b. Prepare an income statement for March. (5 marks) Question 1 part c. Prepare a statement of owner's equity for March. (5 marks) Question 1 part d. Prepare a balance sheet as of March 31, 2022. (5 marks) Tip: For a similar problem for practice purposes, refer to the Demonstration Problem at the end of Chapter 4. Question 1 part a Kal's Moving Co. WORKSHEET Account Titles Trial Balance Dr. Cr Adjustments Dr. Cr Adjusted Trial Balance Dr. Cr. Income Statement Dr. Cr. Balance Sheet Dr. Cr Cash Prepaid Insurance Moving Supplies Moving Truck Accum. Dep., Moving Truck Accounts Payable K. Homer, Capital K. Homer, Withdrawals Revenue from Moving Wage Expense Rent Expense Advertising Expense Insurance Expense Moving Supplies Expense Dep. Expense, Moving Truck Acrued Salaries Question 1 parts b and c (B) KAL'S MOVING CO. INCOME STATEMENT FOR THE MONTH ENDED MARCH 31, 2022 (C) KAL'S MOVING CO. STATEMENT OF OWNER'S EQUITY FOR THE MONTH ENDED MARCH 31, 2022 Question 1 part d (D) KAL'S MOVING CO. BALANCE SHEET MARCH 31, 2022 ASSETS LIABILITIES AND OWNER'S EQUITY