Requirement 1 Prepare a worksheet for Froyer Investment Advisers at December 31, 2016 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 the 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 Requirement 2 Prepare the income statement, the statement of owner's equity, and the classified balance sheet in account format Assume that there were no contributions made by the owner during the year Begin by preparing the income statement Review the Income Statement columns of the worksheet completed in Requirement 1 Prepare the statement of owner's equity Assume that there were no contributions made by the owner during the year Enter any increases in capital prior to the subtotal and any decreases to capital below the subtotal (Use a minus sign or parentheses to show a decrease in capital Exclude any zero balance events for the period from the statement of owner's equity ) Prepare the classified balance sheet in account format on December 31, 2016 (If a box is not used in the balance sheet, leave the box empty do not select a label or enter a zero Abbreviations used Depr Depreciation Equip Equipment ) Requirement 3 Prepare closing entries (Record debits first, then credits Select the explanation on the last line of the journal entry table ) Start by closing revenues Close expenses for the period Close Income Summary Close withdrawals Data Table X Froyer Investment Advicars Unadjusted Tral Balance December 31, 2018 Balance Account Title Debit Credit Cash $ 26 000 Accounts Receivable 43 000 Orice Supplies 9 000 Equipment 23 000 rccumulated Depreciation Equipment 12 000 Accounts Payable 19 000 Salaries Payable Unaamd Rovene 8 000 Notes Payabia (ang term) 19 000 Froyer, Capital 38 000 Proyer, Withdrawals 35 000 Service Revenue 96 000 Insurance Experte 2 000 Salaries Expanse 40 000 Supplies Eponse Interest Experte 3 000 Rort Experte 11 000 Depreciation Experto Equipment 192 000 $ 192 000 Print Done Proyer investment Advicars Viorkshoot December 31, 2018 Adjusted Adjustments Trial Balance Debit Credit Debit Credit Unaducted Trial Balance Debit Credit 26 000 Income Statement Debit Credit Balance Sheet Debit Credit Aoot Tie Cash 43,000 9,000 22 000 JOO 12,000 19,000 AR Omica S Egmont ADE AP Salaries Pay Unaam Rev NP) Proyer, Cap Froyer, WO Service Row 8,000 19,000 38,000 35,000 96 000 2 000 40,000 Ins Ep Salaries Exp Supplies Interest Ronto 3 000 OOOOO 11,000 Depr 192,000 192,000 Not income or Froyer Investment Advisers Income Statement Year Ended December 31, 2016 Net Income (Loss) Froyer Investment Advisers Statement of Owner's Equity Year Ended December 31, 2016 Froyer, Capital, January 1, 2016 Froyer Capital, December 31, 2016 Froyer Investment Advisers Balance Sheet December 31, 2016 Assets Liabilities Less Owner's Equity Accounts and Explanation Debit Credit Date Dec 31 Clos (1) Date Accounts and Explanation Debit Credit Dec 31 Clos (2) Accounts and Explanation Debit Credit Date Dec 31 Clos (3) Clace withirsusle Accounts and Explanation Debit Credit Date Dec 31 Clos (4)

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Requirement 1. Prepare a worksheet for Froyer Investment Advisers at December 31, 2016. The unadjusted balances have been entered for you in the trial balance

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Requirement 1. Prepare a worksheet for Froyer Investment Advisers at December 31, 2016.

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 the 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.

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Requirement 2. Prepare the income statement, the statement of owner's equity, and the classified balance sheet in account format. Assume that there were no contributions made by the owner during the year.

Begin by preparing the income statement.

Review the Income Statement columns of the worksheet completed in Requirement 1.

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Prepare the statement of owner's equity. Assume that there were no contributions made by the owner during the year. Enter any increases in capital prior to the subtotal and any decreases to capital below the subtotal. (Use a minus sign or parentheses to show a decrease in capital. Exclude any zero-balance events for the period from the statement of owner's equity.)

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Prepare the classified balance sheet in account format on December 31, 2016.

(If a box is not used in the balance sheet, leave the box empty; do not select a label or enter a zero. Abbreviations used: Depr.= Depreciation; Equip.=Equipment.)

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Requirement 3. Prepare closing entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

Start by closing revenues.

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Close expenses for the period.

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Close Income Summary.

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Close withdrawals.

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Data Table - X Froyer Investment Advicars Unadjusted Tral Balance December 31, 2018 Balance Account Title Debit Credit Cash $ 26.000 Accounts Receivable 43.000 Orice Supplies 9.000 Equipment 23.000 rccumulated Depreciation Equipment 12.000 Accounts Payable 19.000 Salaries Payable Unaamd Rovene 8.000 Notes Payabia (ang-term) 19.000 Froyer, Capital 38.000 Proyer, Withdrawals 35.000 Service Revenue 96.000 Insurance Experte 2.000 Salaries Expanse 40.000 Supplies Eponse Interest Experte 3.000 Rort Experte 11.000 Depreciation Experto Equipment 192.000 $ 192.000 Print Done Proyer investment Advicars Viorkshoot December 31, 2018 Adjusted Adjustments Trial Balance Debit Credit Debit Credit Unaducted Trial Balance Debit Credit 26.000 Income Statement Debit Credit Balance Sheet Debit Credit Aoot. Tie Cash 43,000 9,000 22.000 JOO 12,000 19,000 AR Omica S. Egmont ADE AP Salaries Pay Unaam. Rev. NP) Proyer, Cap Froyer, WO Service Row 8,000 19,000 38,000 35,000 96.000 2.000 40,000 Ins. Ep Salaries Exp Supplies Interest Ronto 3.000 OOOOO 11,000 Depr 192,000 192,000 Not income or Froyer Investment Advisers Income Statement Year Ended December 31, 2016 Net Income (Loss) Froyer Investment Advisers Statement of Owner's Equity Year Ended December 31, 2016 Froyer, Capital, January 1, 2016 Froyer. Capital, December 31, 2016 Froyer Investment Advisers Balance Sheet December 31, 2016 Assets Liabilities Less: Owner's Equity Accounts and Explanation Debit Credit Date Dec. 31 Clos. (1) Date Accounts and Explanation Debit Credit Dec. 31 Clos. (2) Accounts and Explanation Debit Credit Date Dec. 31 Clos (3) Clace withirsusle Accounts and Explanation Debit Credit Date Dec. 31 Clos. (4)