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 $ 25,300 106 Accounts receivable 66,000 109 Interest receivable 0 111 Notes receivable 55,000 126 Supplies 4,600 128 Prepaid insurance 2,210 131 Prepaid rent 24,900 161 Office furniture 89,000 162 Accumulated depreciation, office furniture $ 24,500 201 Accounts payable 17,300 210 Wages payable 0 233 Unearned consulting revenue 24,600 301 Jeff Moore, capital 234,080 302 Jeff Moore, withdrawals 27,300 401 Consulting revenue 237,020 409 Interest income 410 601 Depreciation expense, office furniture 0 622 Wages expense 197,000 637 Insurance expense 0 640 Rent expense 40,500 650 Supplies expense 6,100 Totals $ 537,910 $ 537,910 Rainmaker prepares adjustments each October 31 The following additional information is available on October 31, 2020 It was determined that $11,300 of the unearned consulting revenue had not yet been earned It was discovered that $13,300 of the balance in the Consulting Revenue account was for services to be performed in November The balance in the Prepaid Rent account represents three months of rent beginning September 1, 2020 Accrued wages at October 31 totalled $6,100 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 Accrued consulting revenue at year end totalled $3,500 Interest of $78 had accrued on the note receivable for the month of October The balance in the Prepaid Insurance account represents the remaining balance of a two year policy purchased on April 1, 2019 A count of the supplies on October 31 revealed a balance remaining of $550 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 )

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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

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	$	25,300
106	Accounts receivable		66,000
109	Interest receivable		0
111	Notes receivable		55,000
126	Supplies		4,600
128	Prepaid insurance		2,210
131	Prepaid rent		24,900
161	Office furniture		89,000
162	Accumulated depreciation, office furniture			$	24,500
201	Accounts payable				17,300
210	Wages payable				0
233	Unearned consulting revenue				24,600
301	Jeff Moore, capital				234,080
302	Jeff Moore, withdrawals		27,300
401	Consulting revenue				237,020
409	Interest income				410
601	Depreciation expense, office furniture		0
622	Wages expense		197,000
637	Insurance expense		0
640	Rent expense		40,500
650	Supplies expense		6,100
	Totals	$	537,910	$	537,910

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

It was determined that $11,300 of the unearned consulting revenue had not yet been earned.
It was discovered that $13,300 of the balance in the Consulting Revenue account was for services to be performed in November.
The balance in the Prepaid Rent account represents three months of rent beginning September 1, 2020.
Accrued wages at October 31 totalled $6,100.
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.
Accrued consulting revenue at year-end totalled $3,500.
Interest of $78 had accrued on the note receivable for the month of October.
The balance in the Prepaid Insurance account represents the remaining balance of a two-year policy purchased on April 1, 2019.
A count of the supplies on October 31 revealed a balance remaining of $550.

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.)