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The balances of the ledger accounts for Buffet Services on September 30, 20X1, and the information needed for adjustments are shown below. Balance $19,000 9,400

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The balances of the ledger accounts for Buffet Services on September 30, 20X1, and the information needed for adjustments are shown below. Balance $19,000 9,400 3,600 9,600 22,200 Account Name Cash Accounts receivable Supplies Prepaid insurance Equipment Accumulated depreciation Equipment Accounts payable Jane Buffet, Capital Jane Buffet, Drawing Fees income Advertising expense 8 6,000 55,000 4,200 31,000 Sent expense 3,600 6,000 12,400 Salaries expense Supplies expense Insurance expense Utilities expense Depreciation expense-Equipment 2,000 Adjustment information: a. The supplies were purchased on September 1, 20X1. An inventory of supplies showed $2.400 on hand on September 30, 20X1. b. The amount of Prepaid Insurance represents a payment made September 1, 20X1, for a six-month insurance policy. c. The equipment, purchased September 1, 20X1, has an estimated useful life of 5 years with no salvage value. The firm uses the straight-line method of depreciation. Prepare the Trial Balance section, record the adjustments, and complete the worksheet. BUFFET SERVICES Worksheet Month Ended September 30, 20X1 ADJUSTMENTS ADJUSTED TRIAL BALANCE Debit Credit Debit Credit BAL TRIAL BALANCE Deblt Credit INCOME STATEMENT Debit Credit Debi ACCOUNT NAME Cash Accounts receivable Supplies Prepaid insurance Equipment Accumulated depreciation Equipment Accounts payable Jane Buffet Capital Jane Buffet Drawing Fees income Advertising expense Rent expense Salaries expense Supplies expense Insurance expense Utilities expense Depreciation expense-Equipment Totals Net income Activa BUFFET SERVICES Worksheet Month Ended September 30, 20X1 ADJUSTMENTS ADJUSTED TRIAL BALANCE Debit Credit Debit Credit INCOME STATEMENT TRIAL BALANCE Debit Credit BALANCE SHEET Debit Credit Debit Credit

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