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struggling to start this question. how would I set it all up in the chart? this is all the information provided Consider the unadjusted trial
struggling to start this question. how would I set it all up in the chart? this is all the information provided
Consider the unadjusted trial balance of Kings, Inc. at December 31, 2020, and the related month-end adjustment dat Click the icon to view the month-end adjustment data.) Requirements 1. Prepare the adjusted trial balance of Kings, Inc. at December 31, 2020. The unadjusted balances have been entered for you. Key each adjusting entry by letter 2. Prepare the single-step monthly income statement, the statement of retained earnings, and the classified balance sheet December 31, 2020 Trial Balance Adjustments Debit Credit Account Debit Credit 8,600 1,700 a. 3, 3,000 2,700 51,000 3,600 3,000 Cash Accounts receivable Prepaid rent Supplies Furniture Accumulated depreciation-furniture Accounts payable Salary payable Common stock Retained earnings Dividends Service revenue Salary expense Rent expense Utilities expense Depreciation expense-furniture Supplies expense 8,000 41,050 4,000 19,200 3,400 450 Total 74,850 74,850 hly in More Info ksheet Adjustment data at December 31, 2020: a. Accrued service revenue at December 31, $3,090, b. Prepaid rent expired during the month. The unadjusted prepaid balance of $3,000 relates to the period December 1, 2020 through February 28, 2021. c. Supplies used during December, $2,300. d. Depreciation on furniture for the month. The estimated useful life of the furniture is five years. o. Accrued salary expense at December 31 for Monday, Tuesday and Wednesday. The five-day weekly payroll of $18,000 will be paid on Friday. For the purpose of this calculation, assume December 31 falls on a Wednesday key redits. Print Done Step by Step Solution
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