Update the trial balance for Kylers Moving Co. (Figure) for January 31, 201X. Adjustment Data to Update
Question:
Adjustment Data to Update Trial Balance
a. Insurance expired, $550.
b. Moving supplies on hand, $700.
c. Depreciation on moving truck, $400.
d. Wages earned but unpaid, $200.
Your task is to
1. Complete a worksheet for Kylers Moving Co. for the month of January.
2. Prepare an income statement for January, a statement of owners equity for January, and a balance sheet as of January 31,201X.
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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