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The adjusted trial balance for Turnquist Company is shown below. TURNQUIST COMPANY Trial Balance August 31, 2017 Before Adjustment After Adjustment Dr. Cr. Dr. Cr.

The adjusted trial balance for Turnquist Company is shown below.

TURNQUIST COMPANY Trial Balance August 31, 2017

Before Adjustment

After Adjustment

Dr.

Cr.

Dr.

Cr.

Cash $10,400 $10,400
Accounts Receivable 8,800 9,600
Supplies 2,300 700
Prepaid Insurance 3,900 2,600
Equipment 12,300 12,300
Accumulated Depreciation-Equipment $ 3,500 $ 4,300
Accounts Payable 5,800 5,800
Salaries and Wages Payable 0 1,200
Unearned Rent Revenue 1,400 800
Owners Capital 14,300 14,300
Service Revenue 34,200 35,000
Rent Revenue 10,800 11,400
Salaries and Wages Expense 17,100 18,300
Supplies Expense 0 1,600
Rent Expense 15,200 15,200
Insurance Expense 0 1,300
Depreciation Expense 0 800
$70,000 $70,000 $72,800 $72,800

Prepare the balance sheet at August 31. (List Assets in order of liquidity.)

TURNQUIST COMPANY Balance Sheet For the Year Ended August 31, 2017 For the Month Ended August 31, 2017 August 31, 2017 Assets $ $ Add Less : Current Assets Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Revenues Owners Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Owners Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Owners Equity $ Liabilities and Owners Equity Current Assets Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Revenues Owners Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Owners Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Owners Equity $ Current Assets Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Revenues Owners Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Owners Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Owners Equity Current Assets Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Revenues Owners Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Owners Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Owners Equity Current Assets Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Revenues Owners Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Owners Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Owners Equity

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