THE KING GROUP Worksheet Month Ended December 31, 20X1 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 93,100 93,100 93,100 Accounts receivable 12,700 12,700 12,700 Supplies 7,400 ( a) 3,100 4,300 4,300 Prepaid advertising 29,600 ( b) 3,700 25,900 25,900 Equipment 77,500 77,500 77,500 Accumulated depreciationEquipment ( c) 3,100 3,100 3,100 Accounts payable 12,700 12,700 12,700 Delva King, Capital 139,000 139,000 139,000 Delva King, Drawing 9,100 9,100 9,100 Fees income 94,950 94,950 94,950 Supplies expense ( a) 3,100 3,100 3,100 Advertising expense ( b) 3,700 3,700 3,700 Depreciation expenseEquipment ( c) 3,100 3,100 3,100 Salaries expense 15,100 15,100 15,100 Utilities expense 2,150 2,150 2,150 Totals 246,650 246,650 9,900 9,900 249,750 249,750 27,150 94,950 222,600 154,800 Net income 67,800 67,800 94,950 94,950 222,600 222,600