WAZZUP Advertising Agency was founded by Matt Walton in January 2002. Presented on the worksheet are both the adjusted and unadjusted trial balances as of December 31, 2009.

Instructions:

1. Journalize the annual adjusting entries that were made

2. Prepare and income statement and a retained earnings statement for the year ended December 31, and a classified balance sheet at December 31.

3. Prepare the closing entries

WAZZUP ADVERTISING AGENCY Trial Balance Worksheet 12/31/2009 Income Statement Balance Sheet Account Title Post Closing TB Best Credit Debit Credit Credit Unadjusted Trial Balance Debt Credit $ 11,000.00 16.000.00 Adjusted Trial Balance Debt Credit $ 11,000.00 19.500.00 8,000.00 8.400.00 3350.00 1,790.00 80.000.00 60 000.00 $ 25,000.00 $ 30,000 DO 2.000.00 2.000.00 320.00 Cash Accounts Receivable Art Supplies Prepaid Insurance Printing Foutement Accumulated Deprecatlon Accounts Payable Interest Payable Notes Payable Uneamed Advertising Revenue Salaries Payable Common Stock Retained Earnings Dividends Advertising Revenue Salaries Expense 8,000.00 8.000.00 4.000.00 3.600.00 1,300.00 20,000.00 20.000.00 5.500.00 5.500.00 10.000.00 10,000.00 57.600 00 61.500.00 9.000.00 10.300.00 1.560.00 320.00 Insurance Expense Interest Expense Depreciation Expense And Supplies Expense Rent Esense 5.000.00 2.400.00 4.350.00 4 350.00 5 122 100 00$ 122,100.00 $132.220.00 $132.220.00