Requirement 1. Prepare a worksheet for Farrell Investment Advisers at December 31, 2024. The unadjusted balances have been entered for you in the trial balance columns of the worksheet. Complete the worksheet one section at a time beginning with the Adjustments section. Enter the adjustments along with the adjustment letter references(a), (b), (c), etc.into columns as appropriate. In the following step, complete the Adjusted Trial Balance. Lastly, complete the worksheet by preparing the Income Statement and Balance Sheet columns. Be sure to calculate the total debits and credits in each step. the

Farrell Investment Advisers Worksheet December 31, 2024 Adjusted Adjustments Trial Balance Debit Credit Debit Credit Income Balance Unadjusted Trial Balance Statement Sheet Acct Title Debit Credit Debit Credit Debit Credit Cash 25,000 AR 46 000 9,000 Office Supp 5,000 23 000 Equipment AD Equip AIP 15,000 12.000 SDN Salaries Pay Uneam Rov NP (W) Farrell Cap Farrell WD Service Rev 8.000 16 000 30.000 33,000 99 000 15 000 AD-EQUID AP 12.000 Salaries Pay Unearn Rov 6,000 16 000 30.000 NUP (VI) Fattoll Cap Farol W/D Service Rev 33,000 99.000 Ins Exp 2000 34000 Salaries Exp Supplies Exp Interest Exp Rent Exp Dept Exp 3.000 7.000 Total 178,000 178,000 Netcome or loss More Info Data Table b c. Unearned Revenue earned during the year $500 Office Supplies on hand, 53,000 Depreciation for the year, $4.000 Accrued Salaries Expense, $2.000 Accrued Service Revenue 59.000 d. - bbreviations Used Acct Account Farrell Investment Advisers Unadjusted Trial Balance December 31, 2024 Balance Account Title Debit Credit Cash 25,000 Accounts Receivable 48.000 Office Supplies 5,000 Equipment 23,000 Accumulated Depreciadtion-Equipment S 15.000 Accounts Payable 12.000 Salaries Payable Uneared Revenue 6,000 Notes Payable (long-term) 16,000 Farrell, Capital 30 000 Farrell, Withdrawals 33.000 AR Supp AD-Equip AP Pay Unear Roy NP (V) Accounts Receivable Supplies Accumulated Depreciation Equipment Accounts Payable Payable Uneared Revenue Notes Payable long-term) Capital Withdrawals Revenue Insurance Expense Expense Depreciation Expense Equipment Cap WID Rev ins Exp Exp Door Exp Print Done