Shayla Green owns Creative Designs. The trial balance of the firm for January 31,201, the first month of operations, is shown below. End-of-the-month adjustments must account for the following items: a. Supples were purchased on January 1, 20X1; Inventory of supplies on January 31,201, is $3,200. b. The prepald advertising contract was signed on January 1,201, and covers a four-month period. c. Rent of $4,200 explred during the month. d. Depreclation is computed using the straight-IIne method. The equipment has an estimated useful Ife of 10 years with no salvage value. Required: 1. Complete the worksheet for the month. 2. Prepare an Income statement, statement of owner's equity, and balance sheet. No additional Investments were made by the owner during the month. 3. Journalize and post the adjusting entrles. Analyze: If the adjusting entrles had not been made for the month, by what amount would net income be overstated or understated? Complete this question by entering your answers in the tabs below. Complete the worksheet for the month. Shayla Green owns Creatlve Designs. The trial balance of the firm for January 31,201, the first month of operations, is shown below. End-of-the-month adjustments must account for the following items: a. Supplies were purchased on January 1, 20X1; Inventory of supplies on January 31,201, is $3,200. b. The prepald advertising contract was signed on January 1,201, and covers a four-month period. c. Rent of $4,200 explred during the month. d. Depreciation is computed using the straight-IIne method. The equlpment has an estimated useful Ife of 10 years with no salvage value. Requlred: 1. Complete the worksheet for the month. 2. Prepare an Income statement, statement of owner's equity, and balance sheet. No additional Investments were made by the owner during the month. 3. Journalize and post the adjusting entrles. Analyze: If the adjusting entrles had not been made for the month, by what amount would net Income be overstated or understated? Complete this question by entering your answers in the tabs below. Prepare an income statement. Shayla Green owns Creatlve Designs. The trial balance of the firm for January 31,201, the first month of operations, is shown below. End-of-the-month adjustments must account for the following items: a. Supplies were purchased on January 1, 20X1; Inventory of supplies on January 31,201, is $3,200. b. The prepald advertising contract was signed on January 1,201, and covers a four-month period. c. Rent of $4,200 explred during the month. d. Depreciation is computed using the straight-IIne method. The equipment has an estimated useful life of 10 years with no salvage value. Required: 1. Complete the worksheet for the month. 2. Prepare an Income statement, statement of owner's equity, and balance sheet. No addltional Investments were made by the owner during the month. 3. Journalize and post the adjusting entrles. Analyze: If the adjusting entrles had not been made for the month, by what amount would net Income be overstated or understated? Complete this question by entering your answers in the tabs below. Prepare a statement of owner's equity. No additional investments were made by the owner during the month. Shayla Green owns Creatlve Designs. The trial balance of the firm for January 31,20X1, the first month of operations, is shown below. End-of-the-month adjustments must account for the following items: a. Supplies were purchased on January 1, 20X1; Inventory of supplies on January 31,201, is $3,200. b. The prepald advertising contract was signed on January 1,201, and covers a four-month period. c. Rent of $4,200 explred during the month. d. Depreclation is computed using the straight-IIne method. The equlpment has an estimated useful Ife of 10 years with no salvage value. Required: 1. Complete the worksheet for the month. 2. Prepare an Income statement, statement of owner's equity, and balance sheet. No additional Investments were made by the owner during the month. 3. Journalize and post the adjusting entries. Analyze: If the adjusting entrles had not been made for the month, by what amount would net income be overstated or understated? Complete this question by entering your answers in the tabs below. Prepare a balance sheet. Shayla Green owns Creative Designs. The trial balance of the firm for January 31,201, the first month of operations, Is shown below. End-of-the-month adjustments must account for the following items: a. Supplies were purchased on January 1, 20X1; Inventory of supplies on January 31,201, is $3,200. b. The prepald advertising contract was signed on January 1,201, and covers a four-month perlod. c. Rent of $4,200 explred during the month. d. Depreclation is computed using the straight-line method. The equipment has an estimated useful Ife of 10 years with no salvage value. Required: 1. Complete the worksheet for the month. 2. Prepare an income statement, statement of owner's equity, and balance sheet. No addltional Investments were made by the owner during the month. 3. Journalize and post the adjusting entrles. Analyze: If the adjusting entrles had not been made for the month, by what amount would net Income be overstated or understated? Complete this question by entering your answers in the tabs below. Journalize the adjusting entries. Journal entry worksheet 4 Prepare the adjusting entry for supplies. Note: Enter debits before credits. Shayla Green owns Creative Designs. The trial balance of the firm for January 31,201, the first month of operations, is shown below. End-of-the-month adjustments must account for the following items: a. Supplles were purchased on January 1,201; Inventory of supplies on January 31,201, is $3,200. b. The prepald advertising contract was signed on January 1,201, and covers a four-month period. c. Rent of $4,200 explred during the month. d. Depreclation is computed using the straight-line method. The equipment has an estimated useful Ife of 10 years with no salvage value. Required: 1. Complete the worksheet for the month. 2. Prepare an Income statement, statement of owner's equity, and balance sheet. No additional Investments were made by the owner during the month. 3. Journalize and post the adjusting entrles. Analyze: If the adjusting entrles had not been made for the month, by what amount would net Income be overstated or understated? Complete this question by entering your answers in the tabs below. Post the adjusting entries. Shayla Green owns Creatlve Designs. The trlal balance of the firm for January 31,201, the first month of operations, Is shown below. End-of-the-month adjustments must account for the following items: a. Supplies were purchased on January 1, 20X1; Inventory of supplies on January 31,201, is $3,200. b. The prepald advertlising contract was signed on January 1,201, and covers a four-month period. c. Rent of $4,200 explred during the month. d. Depreclation is computed using the straight-line method. The equipment has an estimated useful life of 10 years with no salvage value. Required: 1. Complete the worksheet for the month. 2. Prepare an Income statement, statement of owner's equity, and balance sheet. No additional Investments were made by the owner during the month. 3. Journalize and post the adjusting entrles. Analyze: If the adjusting entrles had not been made for the month, by what amount would net Income be overstated or understated? Complete this question by entering your answers in the tabs below. If the adjusting entries had not been made for the month, by what amount would net income be overstated or understated