Reed Geophysical Company adjusts and closes its accounts at the end of the calendar year. At December 31,20-1

Reed Geographic Company

Accounts Trial balance Adjustment Income statement Balance sheet

Dr Cr Dr Cr Dr Cr Dr CR

Cash 12540

Prepaid Rent 3300

Prepaid dues & subscription 960

Supplies 1300

Equipment 20000

Accumulated Deprec: Equipments 1200

Bank Loan(1Yearloan) 5000

Unearned consulting fee 35650

Glen Reed Capital 17040

Glen Reed Drawing 27000

Consulting fee earned 90860

Salaries Expense 66900

Telephone Expense 2550

Rent Expense 11000

Miscellaneous Expense 4200

149750 149750

Other data:

a) For the first 11 months of the year, office rent had been charged to the Rent Expense account at a rate of $1000 per month. On December 1, the company signed a new rental agreement and paid 3 months in advance at a rate of $1,100 per month. The advance payment was debited to the Prepaid rent account. (Hint: December rent went up)

b) Dues and subscription expense for the year is $710

c) The unused supplies on December 31 is $450

d) Interest on bank loan amounted to $100 at the end of the year. NOT yet pay. (Hint: interest payable account)

e) The useful life of the equipment has been estimated at 10 years from date of purchase (straight line depreciation)

f) Consulting service valued at $32,550 were rendered (service was done) during the year for clients who had made payment in advance. (Hint: The advance payment was debit to Unearned revenue account.)

g) At December 31, engineering services $3000 was completed in December but was not bill.

h) Salaries earned by employees but not yet paid amounted to $2,200 at December 31 (Hint: Salaries Payable)

I want to worksheet for the year ended December 31, 20-1 (adjustment) (Income Statement & Balance Sheets columns and closing sheet

Sheet 2: Income statement

Sheet 3: Balance Sheet

Sheet 4: closing sheet