Small Musical Production is owned and operated by Richard Small and the companys financial year end is June 30^th each year. Consider the unadjusted trial balance of the company at June 30, 2014, and the related month-end adjustment data.

Small Musical Production Company
Trial Balance
30-Jun-14
	Balance
	Debit	Credit
Cash	200,000
Accounts receivable	85,000
Prepaid rent	105,000
Supplies	45,000
Motor Vehicle	345,000
Accumulated depreciation		155,000
Salary Payable
Accounts payable		159,000
Unearned service revenue		100,000
R Small, capital		400,000
R Small, drawing	14,000
Service revenue		350,000
Salary expense	255,000
Rent expense	105,000
Miscellaneous expense	10,000
Depreciation expense
Supplies expense
	1,164,000	1,164,000

Adjustment data at June 30 follow:

a. Supplies on hand at year-end, $9,000.

b. Seven (7) months of rent ($105,000) were paid in advance on February 1, 2014. c. Depreciation expense on the Motor Vehicle of $34,500 has not been recorded.

d. Salary not paid at year end $25,000

e. Service revenue of $9,000 must be accrued.

f. Small received $100,000 in advance for consulting services to be provided evenly from January 1, 2014, through October 31, 2014. None of the revenue from this client has been recorded.

Requirement:

1. Prepare the adjusting entries for the company based on the information presented.
2. From the information presented, prepare the companys adjusted trial balance for June 30, 2014
3. Prepare the income statement for the year ended June 30, 2014
4. Prepare the owners equity statement for the year ended June 30, 2014
5. Prepare the balance sheet as at June 30,2014