(You don't need a reference Number) Jones Ltd. for the year end 31-Dec Journalize the following adjustments, Use them to complete the Worksheet and Create Financial Statements a) Your bank loan has generated $500 of interest which you will pay in the future b) There is $1300 depreciation expense on the building c) $800 of your prepaid insurance has now been used d) Your Equipment has depreciated by $500 Date e) $450 worth of work which was previously unearned has now been completed f) You have completed $1000 worth of work for a contract which will be paid next month. g) A count of your supplies shows that you have $4000 worth remaining Accounts and Explanation REF DR CR Income statement Jones Ltd. 31-Dec Balance sheet Jones Ltd. 31-Dec Note! You may need to create accounts Adjustments DR CR Adj trial balance DR CR Trial balance DR CR 82001 1630 4000 5240 50000 90000 TOTAL ASSETS Net Income 11000 27000 total liabilities Cash alr prepaid insurance supplies land building acc depr - building equipment acc. depreciation -eq A/P Unearned revenue mortgage payable Capital drawings revenue salaries exp utilities exp Interest exp depreciation expense insurance expense 4500 4000 1950 102000 59855 Jones Ltd. statement of Owners equity 31-Dec Total Liabilities + OE 101100 Opening capital 231065 115200 12000 + Investments + Net Income Drawings Closing Capital 414370 414370 TOTAL NET INCOME