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This is one question.. The wording is the top half, the chart is the second half. Paula Judge owns Judge Creative Designs. The trial balance
This is one question.. The wording is the top half, the chart is the second half.
Paula Judge owns Judge Creative Designs. The trial balance of the firm for January 31, 2019, the first month of operations, is shown below End-of-the-month adjustments must account for the following items: a. Supplies were purchased on January 1, 2019, inventory of supplies on January 31, 2019, is $600. b. The prepaid advertising contract was signed on January 1, 2019, and covers a four-month period. c. Rent of $1,100 expired during the month d. Depreciation is computed using the straight-line method. The equipment has an estimated useful life of 10 years with no salvage value Required 1. Complete the worksheet for the month 2. Prepare an income statement, statement of owner's equity, and balance sheet. No additional investments were made by the owner during the month 3. Journalize and post the adjusting entries. Analyze If the adjusting entries had not been made for the month, would net income be overstated or understated? plete this question by entering your answers in the tabs below Reg 2 BalReq 3 Gen Reg 3 Ledgers Analyze Req 2 Inc Req 2 Stmt ofR Req 1 Stmt ?? Sheet Complete the worksheet for the month JUDGE CREATIVE DESIGNS Worksheet Month Ended January 31, 2019 Adjusted Trial Balance Credit Income State Debit Trial Balance Debit Credit 34,500 11,600 $Step by Step Solution
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