The December 31, 2014, unadjusted trial balance for Tucker Photographers after the first month of operations is shown below:

Required
1. Enter the unadjusted trial balance onto a work sheet.
2. Using the following additional information, enter the adjustments into the work sheet.
a. It was determined that $2,000 of the balance in the Prepaid Equipment Rental account had been used during December.
b. Depreciation on the automobile for the month of December was $610.
c. Accrued utilities expense of $940 was unrecorded at December 31.
d. $460 of the Unearned Fees account had been earned by December A1.
3. Complete the work sheet.
4. Calculate the balance in the capital account as it would appear on the December 31, 2014, balance sheet.
Analysis Component:
What effect does a net income have on the balance sheet?

Transcribed Image Text:

Tucker Photographers Trial Balance.xls Home Insert Page Layout Formulas Data Review View P18 Tucker Photographers Unadjusted Trial Balance December 31, 2014 Unadjusted Trial Balance 4 Account Cr Cash 8 Accounts receivable 9 Prepaid eqimal 10 Automobile 11 Accumulated depreciation, automobile 12 Accounts payable 13 Unearned fees 14 Jim Tucker, capital 15 Jim Tucker, withdrawals 16 Fees earned 17 Depreciation expense, automobile 18 Equipment rental expense 19 Totals S 9,100 13,000 3,860 49,000 1,920 5,740 65,700 2,600 8,400 4,200 81,760 81,760