The unadjusted trial balance of Frasier Investment Advisers at December 31, 2016, follows: (Click the icon to view the unadjusted trial balance.) Adjustment data at December 31, 2016: i (Click the icon to view the adjustments.) Requirements 1. Prepare a worksheet for Frasier Investment Advisers at December 31, 2016. 2. Prepare the income statement, the statement of retained earings, and the classified bar 3. Prepare closing entries. i More Info Unadjusted Trial Balance Adjustments Adjusted Trial Balance Debit Credit Account Title Credit Credit Debit a. D Cash Debit 34,000 50,000 5,500 26,000 b. c. d. e. Unearned Revenue earned during the year, $400. Office Supplies on hand, $4,000. Depreciation for the year, $4,500 Accrued Salaries Expense, $5,500 Accrued Service Revenue, $6,500 17,000 Accounts Rec. Office Supp Equipment Accum. Depr. Accounts Pay Salaries Pay Unearn. Rev. Note Pay (11) Common Stk 20,000 Print Done 1,500 21,000 20,000 Choose from any list or enter any number in the input fields and then continue to the next question live for Later Frasier Investment Advisors Unadjusted Trial Balance December 31, 2016 Credit Debit 34,000 50,000 5,500 26,000 Account Title Cash Accounts Receivable Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common Stock Retained Earnings Dividends Service Revenue 17,000 20,000 1,500 21,000 20,000 37,500 36.000 90,000 2,000 33.000 Insurance Expense Salaries Expense Supplies Expense Interest Expense Rent Expense Depreciation Expense-Equipment 7,500 13,000 Total 207.000 $ 207.000 1 Click the icon to view the adjustments.) Requirements 1. Prepare a worksheet for Frasier Investment Advisers at December 31, 2016. 2. Prepare the income statement, the statement of retained earings, and the classified balance sheet in account format 3. Prepare closing entries. TV Surien Worksheet December 31, 2016 Adjusted Adjustments Trial Balance Debit Credit Debit Credit Income Statement Debit Credit Balance Sheet Account Title Debit Credit Cash Unadjusted Trial Balance Debit Credit 34,000 50,000 5,500 26,000 17.000 Accounts Rec. Office Supp. Equipment Accum. Depr. Accounts Pay Salaries Pay Uneam. Rev. 20,000 1,500 Choose from any list or enter any number in the input fields and then continue to the next question ullave for Later Requirements 1. Prepare a worksheet for Frasier Investment Advisers at December 31, 2016. 2. Prepare the income statement, the statement of retained eamings, and the classified balance sheet in account format. 3. Prepare closing entries. Requirement 2. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in account format. Begin by preparing the income statement. Review the Income Statement columns of the worksheet completed in Requirement 1. Frasier Investment Advisers Income Sta Year Ended December 31, 2016 Choose from any list or enter any number in the input fields and then continue to the next question. W ave for Later Click the icon to view the unadjusted trial balance.) Adjustment data at December 31, 2016: (Click the icon to view the adjustments.) Requirements 1. Prepare a worksheet for Frasier Investment Advisers at December 31, 2016. 2. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in account format. 3. Prepare closing entries. Prepare the statement of retained earnings. Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings belo Review the Balance Sheet columns of the worksheet completed in Requirement 1. Frasier Investment Advisers Statement of Retained Earnings Year Ended December 31, 2016 Retained Earnings, January 1, 2016 Retained Earnings, December 31, 2016 Prepare the classified balance sheet in account format on December 31, 2016. (If a box is not used in the balance sheet leave the box emply do not Review the Balance Sheet columns of the worksheet completed in Requirement 1 Review the Statement of Retained Earnings completed above. Choose from any list or enter any number in the input fields and then continue to the next question. Wave for Later Requirements 1. Prepare a worksheet for Frasier Investment Advisers at December 31, 2016. 2. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in account format. 3. Prepare closing entries. Prepare the classified balance sheet in account format on December 31, 2016. (If a box is not used in the balance sheet, leave the box empty, do not sel Review the Balance Sheet columns of the worksheet completed in Requirement 1. Review the Statement of Retained Earnings completed above. Frasier Investment Advisers Balance Sheet December 31, 2016 Assets Liabilities Choose from any list or enter any number in the input fields and then continue to the next question. have for Later MacBook Air Requirement 3. Prepare closing entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry tabl Start by closing revenues. Review the income Statement columns of the worksheet completed in Requirement 1
