Ruiz Consulting - Review Problem

Homework - Ruiz Consulting:

- Post November Journal Entries to the General Ledger T Accounts

- Prepare the Trial Balance Schedule on the Worksheet

- Post the Adjusting Entries to the Worksheet

- Complete the Worksheet:

- Determine Net Income or Net Loss

- Prepare the Three Financial Statements:

- The Income Statement

- The Statement of Owners Equity

- The Balance Sheet

- Prepare the Closing Entries

Ruiz Consulting ServicesFor the Month Ended November 30, 2023AdjustedIncomeBalanceTrial BalanceAdjustmentsTrial BalanceStatementSheetAccount NameDebitCreditDebitCreditDebitCreditDebitCreditDebitCreditCash14,34014,34014,340A/R9,3009,3009,300Prepaid Insurance96080 (a)880880Supplies1,500600 (b)900900Computer Equipment10,00010,00010,000Accumulated Depreciation250 (c)250250A/P7,7007,7007,700Unearned Consult. Revenue1,000(d) 200800800Ruiz, Capital20,00020,00020,000Ruiz, Withdrawals1,4001,4001,400Consult. Revenue10,800200 (d)11,00011,000Wages, Exp.1,200(e) 3601,5601,560Utiltity Exp.700700700Telephone Exp.10010010039,50039,500Insurance Exp.(a) 808080Supplies Exp.(b) 600600600Depreciation Exp.(c) 250250250Wages Payable360 (e)3603601,4901,49040,11040,110329011,00036,82029,110Net Income77107,71011,00011,00036,82036,820