WORKSHEET PREPARATION

PROBLEM: COMSATS' Consulting Services (CCS) was established in 1999. The company adjusts and closes its accounts at the end of the current accounting period. On December 31, 2016, the balances in the ledger accounts are given prior to making adjusting entries. THE TRIAL BALANCE IS SHOWN IN THE IMAGE.

OTHER DATA/INFORMATION:

1. On December 1, 2016, the company signed a new rental agreement and paid 3 months' rent in advance at a rate of Rs. 1,100 per month. This advance payment was debited to the "Prepaid Rent" account.

2. The useful life of the equipment has been estimated at 10 years from date of acquisition. No depreciation expense has been recorded for the current year.

3. Dues and Subscriptions expired during the period in total amount of Rs. 710.

4. Consulting Services valued at Rs. 32,550 were rendered during the account year for clients who had made payment in advance.

5. Salaries earned by employees but not yet paid amounted to Rs. 2,200 in December.

6. An estimate of supplies on hand was made on December 31. The estimated cost of the unused supplies was Rs. 450.

7. Accrued interest on Note Payable amounted to Rs. 100 at year-end (Set up accounts for Interest Expense and for Interest Payable).

REQUIRED: Prepare a 10-column worksheet.

Comsats' Consulting Services (CCS) Trial Balance