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

Small Musical Production Trial Balance 30-Jun-14

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 mobile 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

| Credit Debit 200.000 85,000 105,000 45,000 345,000 155.000 Cash | Accounts receivable Prepaid rent Supplies Motor Vehicle Accumulated depreciation Salary Payable Accounts payable | Unearned service revenue R Small, capital R Small, drawing Service revenue Salary expense Rent expense Miscellaneous expense Depreciation expense Supplies expense 159,000 100,000 400,000 14,000 350,000 255,000 105,000 10,000 1,164,000 1,164,000