usanne Co., AG was organized on July 1, 2017. Quarterly financial stateme Whancial position at May 31. and a retained earnings statement for the month of ned. The unadjusted and adjusted trial balances as of September 30 are sho WAY 31. Problems: Set B P3-3B Lausanne are prepared. The below. 153 atement for the month of May (c) Adj. trial balance 99,875 (d) Net income 6,675 Ending retained earnings 6.675 Total assets 91,705 LAUSANNE CO., AG Trial Balance September 30, 2017 Unadjusted Dr. CHF 8,700 Cr. 10,400 Prepare adjusting entries and financial statements. (LO 5, 6, 7) Adjusted Cash Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Depreciation Equipment 1,900 2,200 20,000 CHF-O- 10.000 1,900 Notes Payable Accounts Payable Salaries and Wages Payable Interest Payable Unearned Rent Revenue Share Capital-Ordinary Dividends Service Revenue Rent Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Supplies Expense Utilities Expense Interest Expense Dr. CHF 8,700 11,500 650 1,200 20,000 CHF 1,200 3,200 10,000 3,200 725 100 22,000 850 1,000 22,000 16,800 1,000 1.710 17,900 8,000 2,760 1,900 8,725 2,900 1,200 1,250 1,510 100 CHF55,610 CHF55,610 CHF58,735 CHF58,735 1,510 Instructions (a) Journalize the adjusting entries that were made. (b) Prepare an income statement and a retained earnings statement for the 3 months end- ing September 30 and a statement of financial position at September 30. (c) If the note bears interest at 12%, how many months has it been outstanding? (b) Net income CHF4,9 Ending retained earnings CHF3,975 Total assets CHF40,850 n