Rainmaker Environmental Consultants is just finishing its second year of operations. The companys unadjusted trial balance at October 31, 2020, follows:

RAINMAKER ENVIRONMENTAL CONSULTANTS Unadjusted Trial Balance October 31, 2020
Acct.No.	Account	Debit				Credit
101	Cash	$	26,700
106	Accounts receivable		68,000
109	Interest receivable		0
111	Notes receivable		57,000
126	Supplies		6,000
128	Prepaid insurance		4,590
131	Prepaid rent		29,100
161	Office furniture		91,000
162	Accumulated depreciation, office furniture					$	31,500
201	Accounts payable						18,700
210	Wages payable						0
233	Unearned consulting revenue						27,400
301	Jeff Moore, capital						247,920
302	Jeff Moore, withdrawals		28,700
401	Consulting revenue						239,020
409	Interest income						550
601	Depreciation expense, office furniture		0
622	Wages expense		199,000
637	Insurance expense		0
640	Rent expense		47,500
650	Supplies expense		7,500
	Totals	$	565,090			$	565,090

Rainmaker prepares adjustments each October 31. The following additional information is available on October 31, 2020.

1. It was determined that $12,700 of the unearned consulting revenue had not yet been earned.
2. It was discovered that $14,700 of the balance in the Consulting Revenue account was for services to be performed in November.
3. The balance in the Prepaid Rent account represents three months of rent beginning September 1, 2020.
4. Accrued wages at October 31 totalled $7,500.
5. The office furniture was purchased on March 1, 2019, and has an estimated useful life of two years. After two years of use, it is expected that the furniture will be worthless.
6. Accrued consulting revenue at year-end totalled $4,900.
7. Interest of $92 had accrued on the note receivable for the month of October.
8. The balance in the Prepaid Insurance account represents the remaining balance of a two-year policy purchased on April 1, 2019.
9. A count of the supplies on October 31 revealed a balance remaining of $690.

Required: 1. Set up balance column accounts for Rainmaker Environmental Consultants and enter the balances listed in the unadjusted trial balance. (Enter the adjusting values in the order of Transaction i.e., a through i.)

2. Complete the following T-Account with the adjusting entries for October 31, 2020.

3. Prepare an adjusted trial balance.

4-a. Use the adjusted trial balance to prepare an income statement.

4-b. Use the adjusted trial balance to prepare a statement of changes in equity. Assume that the owner, Jeff Moore, made no owner investments during the year.

4-c. Use the adjusted trial balance to prepare a balance sheet. Assume that the owner, Jeff Moore, made no owner investments during the year. (Be sure to list the assets and liabilities in order of their liquidity.)