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The unadjusted trial balance of FarrellFarrell Investment Advisers at DecemberDecember 3131 , 20182018 , follows: LOADING... (Click the icon to view the unadjusted trial balance.)

The unadjusted trial balance of

FarrellFarrell

Investment Advisers at

DecemberDecember

3131 ,

20182018 ,

follows:

LOADING...

(Click the icon to view the unadjusted trial balance.) Adjustment data at

DecemberDecember

3131 ,

20182018 :

LOADING...

(Click the icon to view the adjustments.)

Requirements

1.

Prepare a worksheet for

FarrellFarrell

Investment Advisers at

DecemberDecember

3131 ,

20182018.

2.

Prepare the income statement, the statement of retained earnings, and the classified balance sheet in account format.

3.

Prepare closing entries.

Requirement 1. Prepare a worksheet for

FarrellFarrell

Investment Advisers at

DecemberDecember

3131 ,

20182018.

The unadjusted balances have been entered for you in the trial balance columns of a worksheet. Complete the worksheet one section at a time beginning with the Adjustments section. Enter the adjustments along with the adjustment letter

referenceslong dash (a),

(b), (c),

etc.long dashinto

the columns as appropriate. In the following step, complete the Adjusted Trial Balance. Lastly, complete the worksheet by preparing the Income Statement and Balance Sheet columns. Be sure to calculate the total debits and credits in each step. (Abbreviations used: Depr. = depreciation, Exp. = expense, l/t = long term, Pay. = payable, Rec. = receivable, Stk. = stock, and Supp. = supplies.)

Farrell Investment Advisers

Worksheet

December 31, 2018

Unadjusted

Trial Balance

Adjustments

Account Title

Debit

Credit

Debit

Credit

Cash

26,000

Accounts Rec.

49,000

Office Supp.

3,000

Equipment

26,000

Accum. Depr.

17,000

Accounts Pay.

12,000

Salaries Pay.

Unearn. Rev.

1,000

Note Pay. (l/t)

18,000

Common Stk

23,000

Ret. Earnings

13,500

Dividends

33,000

Service Rev.

99,000

Ins. Exp.

3,000

Salaries Exp.

34,000

Supplies Exp.

Interest Exp.

3,500

Rent Exp.

6,000

Depr. Exp.

Total

183,500

183,500

Net income or loss

Choose from any list or enter any number in the input fields and then click Check Answer.

Farrell Investment Advisers,,, Unadjusted Trial Balance,,, "December 31, 2018",,, ,Balance,, Account Title,Debit,Credit, Cash,"$26,000",, Accounts Receivable,"49,000",, Office Supplies,"3,000",, Equipment,"26,000",, Accumulated DepreciationEquipment,,"$17,000", Accounts Payable,,"12,000", Salaries Payable,,, Unearned Revenue,,"1,000", Notes Payable (long-term),,"18,000", Common Stock,,"23,000", Retained Earnings,,"13,500", Dividends,"33,000",, Service Revenue,,"99,000", Insurance Expense,"3,000",, Salaries Expense,"34,000",, Supplies Expense,,, Interest Expense,"3,500",, Rent Expense,"6,000",,

Unearned Revenue earned during the?year,

$ 900$900.

b.

Office Supplies on? hand,

$ 1 comma 500$1,500.

c.

Depreciation for the? year,

$ 4 comma 000$4,000.

d.

Accrued Salaries? Expense,

$ 3 comma 000$3,000.

e.

Accrued Service? Revenue,

$ 2 comma 000$2,000.

PrintDone

Depreciation ExpenseEquipment,,, Total,"$183,500","$183,500",

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