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The account balances appearing on the trial balance (below) were taken from the general ledger of Speedy Copy shop at September 30. Additional information for
The account balances appearing on the trial balance (below) were taken from the general ledger of Speedy Copy shop at September 30. Additional information for the month of September which has not yet been recorded in the accounts is as follows: (a) A physical count of supplies indicates $500 on hand at September 30. (b) The amount of insurance that expired in the month of September was $400. (C) Depreciation on equipment for September was $600. (d) Rent owed on the copy shop for the month of September was $750 but will not be paid until October. Instructions 1. Using the above information, complete the worksheet on the following page for Speedy Copy Shop for the month of September 2. Journalize and post all adjusted and closing entries for Speedy Copy Shop for the month of September. 3. Prepare Income Statement for Speedy Copy Shop for the month of September. 4. Prepare Owner's Equity Statement for Speedy Copy Shop for the month of September. 5. Prepare Classified Balance Sheet for Speedy Copy Shop for the month of September. SPEEDY COPY SHOP Worksheet For the Month Ended September 30, 2020 Adjusted Income Trial Balance Adjustments Trial Balance Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit 3,000 1,500 2,400 24,000 4,800 2,400 4,000 15,600 2,200 6,700 Account Titles Cash Supplies Prepaid Insurance Equipment Accum. Depreciation, Equipment Accounts Payable Notes Payable Owner's Capital Owner's Drawings Service Revenue Utilities Expense Totals Supplies Expense Insurance Expense Depreciation Expense Dupplico LANCISC Insurance Expense Depreciation Expense Rent Expense Rent Payable Totals Net Income Totals 400 33,500 33,500
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