The unadjusted trial balance of Hutton Research at August 31, 2020, and the related month-end adjustment data appear below

(Click the icon to view the unadjusted trial balance.)

1 (Click the icon to view the month-end adjustment data.)

Required

1 Prepare the adjusted trial balance of Hutton Research at August 31, 2020 by sketching T-accounts in your notes to calculate the new balances.

2. Prepare the income statement and the statement of owner's equity for the year ended August 31, 2020, and the balance sheet at August 31, 2020. Write a short description of how the three financial statements are linked

Requirement 1. Prepare the adjusted trial balance of Hutton Research at August 31, 2020 by sketching T-accounts in your notes to calculate the new balances.

Complete the adjusted trial balance. Remember to consider the adjustments provided in the problem.

The Homewhat fogat 1.2000 de le month end of the two che the loon to view the underline Click the icon to iw the month and want data) Required pero adjusted tience of the Rosearch at August 31, 2020 By Sh Taccount your testo calculate the new balance 2. Prepare the home statement and the statement of owner's anaty for the year ended At 31, 2020, and the lance sheet August 31, 2020 Wie shortestion of how the tre franclinad Requirement 1. Prepare the adjusted trial balance of Hutton Research at August 31, 2020 by sketching T-accounts in your notes to calculate the new balances Complete the adjusted trial balance. Remember to consider the adjustments provided in the problem (Round all adjustments to the nearest whole dollar. If a anter a zero.) Hutton Research Adjusted Trial Balance August 31, 2020 Balance Account Title Debit Credit Cash Accounts receivable Prepaid rent Supplies Furniture Accumulated amortization-furniture Accounts payable Salaries payable J. Stewart, capital J. Stewart, withdrawals Consulting revenue Salaries expense Rent expense Utilities expense Amortization expense-furniture Supplies expense Total Unadjusted trial balance Hutton Research Unadjusted Trial Balance August 31, 2020 Balance Account Title Debit Credit $ Cash Accounts receivable Prepaid rent Supplies 32,000 50,000 24,000 2,800 Furniture 54,000 $ 27,000 32,000 Accumulated amortization--furniture Accounts payable Salaries payable J. Stewart, capital J. Stewart, withdrawals Consulting revenue 0 128,600 46.000 133,000 Salaries expense 36,000 Rent expense Utilities expense 49,000 20.000 Print Done Unadjusted trial balance Darance Account Title Debit Credit $ 32,000 50,000 Cash Accounts receivable Prepaid rent Supplies 24,000 2,800 54,000 $ 27,000 32.000 Furniture Accumulated amortization furniture Accounts payable Salaries payable J. Stewart, capital J. Stewart, withdrawals Consulting revenue 0 128,600 46,000 133,000 Salaries expense 36,000 Rent expense Utilities expense Amortization expense-furniture Supplies expense 49,000 20.000 6,800 0 Total $ 320,600 $ 320,600 Print Done - X Adjustments a. b. C. d. Accrued consulting revenue at August 31, $4,200. The prepaid balance of $24,000 represented one year of rent. Four months of prepaid rent have been used Supplies remaining on hand at August 31, $980. The estimated useful life of the furniture is 10 years; it will have no value at the end of 10 years, and the straight-line method of amortization is used. Amortization expense had only been taken for the first 11 months. Accrued salaries expense at August 31 is for three days. The five-day weekly payroll is $7,600 e