The unadjusted trial balance and adjustment data for Elbow Cycle Repair Shop are presented in P4-4A.

Instructions
Prepare a work sheet for the year ended January 31, 2017.
Taking It Further
Is it still necessary to record the adjusting entries in the journal and post them to the ledger accounts when using a work sheet?

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ELBOW CYCLE REPAIR SHOP Trial Balance January 31, 2017 Debit Credit $ 3,200 6,630 6,420 5,240 50,000 190,000 Accounts receivable Prepaid insurance Supplies Land Building Accumulated depreciation-building Equipment Accumulated depreciation-equipment Accounts payable Unearned revenue Mortgage payable H. Dude, capital H. Dude, drawings Service revenue Salaries expense Utilities expense Interest expense S 11,000 27,000 4,500 6,400 21,950 182,000 61,000 101,100 235,550 115,200 12,000 5,610 S522,400 $522,400