The wadustad lal balance of Fawn Investment Advisers at Documber 31, 2016, folk Click the icon to view the unadusted trial balance Adjustment data at December 31, 2016 Click the icon to view the adjustments) Requirements 1. Prepare a worksheet for Fawn Investment Advisers at December 31, 2016 2. Prepare the income statement, the statement of owner's equity, and the classified balance shoot in account format. Assume that there were no contributions made by the owner during the year Prepare closing entries Data table Fawn Investment Advisers Unadjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit Cash $ Accounts Receivable Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable 27,000 43,000 3,000 27,000 $ 14,000 13,000 Salaries Pavahla Data table 27,000 $ 14,000 Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable 13,000 Unearned Revenue 5,000 16,000 Notes Payable (long-term) Fawn, Capital Fawn, Withdrawals 44,000 32,000 Service Revenue 98,000 Insurance Expense Salaries Expense Supplies Expense 6,000 31,000 Data table UrUTTI TUVUTTUU J.vou 16,000 Notes Payable (long-term) Fawn, Capital Fawn, Withdrawals 44,000 32,000 Service Revenue 98,000 6,000 31,000 Insurance Expense Salaries Expense Supplies Expense Interest Expense Rent Expense 7,000 14,000 Depreciation Expense-Equipment $ 190,000 $ 190,000 Total Requirement 1. Prepare a worksheet or Fawn investment Advisors December 31, 2016 The custod balances have been entered for you in the trial bancos of the worksheet Complete the work of one section at a time with the Adjustments section Enter the auments along with the same letter references bett-into the columns as appropriate in the following stop. Complete the Added Taxe Lastly complete the works by preparing the income Statement and Balance Sheet column. Be sure to calculate the total debits and credits in each step Old the icon to view the abbreviations und Fawn Investment Advisers Worksheet December 31, 2016 Adjusted Adjustments Trial Balance Debit Credit Debit Credit Balance Unadjusted Trial Balance Income Statement Sheet Acct. Title Debit Credit Debit Credit Debit Credit 27,000 43,000 3,000 27,000 Cash AR Office Supp Equipment A/D-Equip AP Salaries Pay Unearn. Rev. NP (M) 14,000 13,000 5.000 16 000 Fawn Investment Advisers Worksheet December 31, 2016 Adjusted Adjustments Trial Balance Debit Credit Debit Credit Income Balance Unadjusted Trial Balance Statement Sheet Acct. Title Debit Credit Debit Credit Debit Credit 27,000 43,000 3,000 27.000 Cash AR Office Supp Equipment A/D-Equip Salarios Pay Unearn. Rev. NP OM 14.000 13.000 5.000 16 0001 27.000 Equipment A/D-Equip AP 14,000 13,000 Salaries Pay Unoamn. Rev. NP () Fawn, Cap. 5,000 16,000 44,000 Fawn, W/D 32.000 Service Rev 98,000 6,000 31,000 Ins. Exp. Salaries Exp Supplies Exp. Interest Exp. Rent Exp. 7.000 14,000 nanr Fyn Service Rev 98,000 0,000 31,000 Ins. Exp Salaries Exp Supplies Exp Interest Exp Rent Exp Depr. Exp 7,000 14,000 Total 190.000 190.000 Net Income or loss The wadustad lal balance of Fawn Investment Advisers at Documber 31, 2016, folk Click the icon to view the unadusted trial balance Adjustment data at December 31, 2016 Click the icon to view the adjustments) Requirements 1. Prepare a worksheet for Fawn Investment Advisers at December 31, 2016 2. Prepare the income statement, the statement of owner's equity, and the classified balance shoot in account format. Assume that there were no contributions made by the owner during the year Prepare closing entries Data table Fawn Investment Advisers Unadjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit Cash $ Accounts Receivable Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable 27,000 43,000 3,000 27,000 $ 14,000 13,000 Salaries Pavahla Data table 27,000 $ 14,000 Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable 13,000 Unearned Revenue 5,000 16,000 Notes Payable (long-term) Fawn, Capital Fawn, Withdrawals 44,000 32,000 Service Revenue 98,000 Insurance Expense Salaries Expense Supplies Expense 6,000 31,000 Data table UrUTTI TUVUTTUU J.vou 16,000 Notes Payable (long-term) Fawn, Capital Fawn, Withdrawals 44,000 32,000 Service Revenue 98,000 6,000 31,000 Insurance Expense Salaries Expense Supplies Expense Interest Expense Rent Expense 7,000 14,000 Depreciation Expense-Equipment $ 190,000 $ 190,000 Total Requirement 1. Prepare a worksheet or Fawn investment Advisors December 31, 2016 The custod balances have been entered for you in the trial bancos of the worksheet Complete the work of one section at a time with the Adjustments section Enter the auments along with the same letter references bett-into the columns as appropriate in the following stop. Complete the Added Taxe Lastly complete the works by preparing the income Statement and Balance Sheet column. Be sure to calculate the total debits and credits in each step Old the icon to view the abbreviations und Fawn Investment Advisers Worksheet December 31, 2016 Adjusted Adjustments Trial Balance Debit Credit Debit Credit Balance Unadjusted Trial Balance Income Statement Sheet Acct. Title Debit Credit Debit Credit Debit Credit 27,000 43,000 3,000 27,000 Cash AR Office Supp Equipment A/D-Equip AP Salaries Pay Unearn. Rev. NP (M) 14,000 13,000 5.000 16 000 Fawn Investment Advisers Worksheet December 31, 2016 Adjusted Adjustments Trial Balance Debit Credit Debit Credit Income Balance Unadjusted Trial Balance Statement Sheet Acct. Title Debit Credit Debit Credit Debit Credit 27,000 43,000 3,000 27.000 Cash AR Office Supp Equipment A/D-Equip Salarios Pay Unearn. Rev. NP OM 14.000 13.000 5.000 16 0001 27.000 Equipment A/D-Equip AP 14,000 13,000 Salaries Pay Unoamn. Rev. NP () Fawn, Cap. 5,000 16,000 44,000 Fawn, W/D 32.000 Service Rev 98,000 6,000 31,000 Ins. Exp. Salaries Exp Supplies Exp. Interest Exp. Rent Exp. 7.000 14,000 nanr Fyn Service Rev 98,000 0,000 31,000 Ins. Exp Salaries Exp Supplies Exp Interest Exp Rent Exp Depr. Exp 7,000 14,000 Total 190.000 190.000 Net Income or loss