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 $10,300 $10,300

Accounts Receivable 9,000 10,000

Supplies 2,500 700

Prepaid Insurance 3,700 2,700

Equipment 13,500 13,500

Accumulated Depreciation-Equipment $ 3,800 $ 4,400

Accounts Payable 5,900 5,900

Salaries and Wages Payable 0 1,500

Unearned Rent Revenue 1,300 700

Owners Capital 15,200 15,200

Service Revenue 33,900 34,900

Rent Revenue 10,800 11,400

Salaries and Wages Expense 17,100 18,600

Supplies Expense 0 1,800

Rent Expense 14,800 14,800

Insurance Expense 0 1,000

Depreciation Expense 0 600

$70,900 $70,900 $74,000 $74,000

Prepare the income statement for the year.

TURNQUIST COMPANY

Income Statement

$

$

$

SHOW LIST OF ACCOUNTS

Prepare the owners equity statement for the year.

TURNQUIST COMPANY

Owners Equity Statement

$

:

$

SHOW LIST OF ACCOUNTS

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

TURNQUIST COMPANY

Balance Sheet

Assets

$

$

:

$

Liabilities and Owners Equity

$

$