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WHICH WOULDLIVE E . + +Trial Balance open black board for table F . The following year -end adjustments are needed A two year insurance
WHICH WOULDLIVE E . + +Trial Balance open black board for table F . The following year -end adjustments are needed A two year insurance policy was purchased on November 30 2016 An end of year inventory of supplies indicated a remaining inventory of $2 670 Depreciation of equipment is $375 Earned $250 of previously unearned revenue Accrual of salaries for $210 6 . Accrual of $1 800 revenue owed by a customer and not yet billed G . Instructions A . Prepare the adjusting journal entries . Use standard form for your journal entries . Page 107 in your text provides a good example . ( 12 marks ) B . Prepare the following Adjusted trial balance . ( 4 marks ) Income statement for the year 2016 in good form . ( 10 marks ) Statement of retained earnings in good form . ( 4 marks ) Classified Statement of Financial Position in good form . ( 14 marks ) Closing journal entries . ( 6 marks ) H . Good form includes a full title , a $ sign on the first number in a column and in the statement total , double underline on the statement total proper use of columns and no abbreviations
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