The under balance of Fin Investment Advisors at December 31, 2018, follow Chich conto www the unauthod trial balance Aumentata at December 31, 2016 con lo view the mans) Requirements 1 Prepare a worksheet to an investment Aders at December 31, 2016 2 Pepe income statement, the statement of owners culty and the classified balance sheet in account format Amunthem were no contribution made by the owner and your 3. Percing entries Requirement 1. Prepare a worksheet for Fawn Investment Advisors December 31, 2016 The unadulted balances have been entered for you in the trial balance columns of the worksheet Complete the wore section at a time beginning with the Auments section Enter the adjustments along with the adjustment letter referenca el, etc.- Into the columns as appropriate in the following up, complete the dusted Trial Boardcompite the world by preparing the incom Statement and Balance Sheet columns Be sure to call the total debits and credits in each step (Cho then to view the abbreviations used Fawn Investment Advisers The unadjusted trial balance of Fawn Investment Advisers at December 31, 2016, follows: Fawn Investment Advisers Worksheet December 31, 2016 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Balance Income Statement Sheet Debit Acct. Title Debit Credit Credit Debit Credit Debit Debit Credit Credit Cash 27,000 43,000 3.000 27,000 14,000 AR Office Supp Equipment A/D-Equip A/P Salaries Pay Unearn. Rev. NP (VT) 13,000 5,000 16,000 The unadjusted trial balance of Fawn Investment Advisors at December 31, 2016. follows NP (1/1) 16,000 Fawn, Cap 44,000 Fawn, WID 32,000 Service Rev 98,000 8.000 31,000 Ins. Exp Salaries Exp. Supplies Exp Interest Exp Rent Exp. Depr. Exp. 7,000 14.000 190.000 190.000 Total Net income or loss Requirement 2. Prepare the income statement, the statement of owner'iu paty, and the classified and then account format Asume that there were no contributions made by the owner during the year Elegin by preparing the income statement Review the core terent columes of the worksheet completed in Recurement Fawn vestinent Advisers Income Statement Year Ended December 31, 2016 Fawn Investment Advisers Income Statement Year Ended December 31, 2016 Net Income (Loss) Prepare the statement of owner's equity Assume that there were no contributions made by the owner during the year Enter any inomases in capital prior to the stand any do it below the Subtotal (Use a mission or parties to show a decrease in Capital Exclude any zoro balance events for the period from the statement of owner's quity Review the Balance Sheet columns of the workshot completed in Rocurom! Fawn Investment Advisers Statement of Owner's Equity Year Ended December 31, 2016 Fawn Capital January 1, 2016 Fawn, Capita December 31, 2016 Procure the classified bodice sheet in account format on December 31, 2018. a bon as net ned in the balance sheet, wave the box ungty, do not be able or enter a zero Abreviator ned Deer Depreciation Equipment Pewww the Balurice Shout columes of the worksheet compted in Forment, Bww the Statement of Owes Footy bove Fawn Investment Advies Balance Sheet December 31, 2016 Assets Liabilities The unadjusted trial balance of Fawn Investment Advisers at December 31, 2016, follows: Balance Sheet December 31, 2016 Assets Liabilities Owner's Equity Less: Requirement 3. Prepare closing entries (Record dobits first, then credits. Select the explanation on the last line of the journal ontry table) Start by closing revenues Review the Income Statement columns of the workshoot completed in Requirement1 Date Accounts and Explanation Credit Debit Dec. 31 Clos (1) Close expenses for the period. Review the Income Statement columns of the worksheet completed in Requirement1 Date Accounts and Explanation Debit Credit Dec 31 Close expenses for the period. Review the Income Statement columns of the worksheet completed in Requirement 1. Date Accounts and Explanation Debit Credit Dec 31 Clos. (2) his HER Close Income Summary Review the Income Statement columns of the worksheet completed in Requirement 1. Date Accounts and Explanation Debit Dec. 31 Clos. (3) Credit Close withdrawals. Review the Balance Sheet columns of the worksheet completed in Requirement 1. Date Accounts and Explanation Debit Credit Dec. 31 Clos. (4)