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The trial balance of ABC Ltd at 30 June 2016 is as follows: Noted: The 'Final' column in the above worksheet represents the aggregated
The trial balance of ABC Ltd at 30 June 2016 is as follows: Noted: The 'Final' column in the above worksheet represents the aggregated account balances from each line and the 'Sign' column (last column to the right) above can be either 'dr.' or 'cr.'. The data needed for the year-end adjustments are given as follows: Unearned service revenue still unearned $2099 Prepaid rent still in effect $1916 Supplies used during the month $225 Depreciation for the month $1598 Accrued advertising expense $1913 Accrued salary expense $3324 Prepare the adjusting entries above and fill in the trial balance worksheet, so that the final amount of adjusted balance can be derived. Prepare the income statement from the adjusted trial balance in the following format: ABC Ltd Income Statement For the year ended 30 June 2016 Service revenue Salary expense ?? Rent expense ?? Depreciation expense ?? Advertising expense ?? Supplies expense ?? ??
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