Please answer the requirements below Allison Cleaning Servic

Please answer the requirements below.

Allison Cleaning Services Co. offers security services to business clients. The following are the UNADJUSTED account balances as of October 31, 2015. Insurance Expense Utilities Expense Supplies Expense Prepaid Insurance Wages Payable Rent Expense Withdrawals Service Revenue Wages Expense Land Equipment Accum Depreciation Accounts Payable Cash Accounts Receivable Supplies Depreciation Expense Miscellaneous Expense Advertising Expense 200 70 12 36 12 90 350 180 210 The data for year-end adjustments are as follows: a Fees earned, but not yet billed, $25. b Supplies on hand, $2. c Insurance premiums expired, $8. d Depreciation expense, $2. e Wages accrued, but not paid, $5 Requirements: 1. Enter unadjusted account balances into the Trial Balance columns of the worksheet All accounts have a normal balance 2. Journalize Allison Cleaning Services Co.\'s adjusting entries. 3. Enter the adjustment data on the worksheet and complete the remainder of the worksheet. 4. Prepare Allison Cleaning Services Co.\'s Income Statement. 5. Prepare Allison Cleaning Services Co.\'s Statement of Owner\'s Equity. 6. Prepare Allison Cleaning Services Co.\'s Balance Sheet. 7. Jourmalize Allison Cleaning Services Co.\'s closing journal entries. 8. Prepare Allison Cleaning Services Co.\'s Post-Closing Trial Balance COMPLETE ENTIRE PACKET NEATLY USING PENCIL, NO INK

Solution

Answer 1 & 3. Allison Cleaning Service Co. Trial Balance Trial Balance Adjustments Adjusted TB Income Stmt Balance Sheet Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash         12.00         12.00         12.00 Accounts Receivable         90.00         25.00      115.00      115.00 Supplies           8.00           6.00           2.00           2.00 Prepaid Insurance         12.00           8.00           4.00           4.00 Land      200.00      200.00      200.00 Equipment         70.00         70.00         70.00 Accumulated Depreciation           4.00           2.00           6.00           6.00 Accounts Payable         36.00         36.00         36.00 Wages Payable                -             5.00           5.00           5.00 Capital      210.00      210.00      210.00 Withdrawls           8.00           8.00           8.00 Service Revenue      350.00         25.00      375.00      375.00 Advertisement Expense           3.00           3.00           3.00 Depreciation Expense                -             2.00           2.00           2.00 Insurance Expenses                -             8.00           8.00           8.00 Miscellaneous Expense           2.00           2.00           2.00 Rent Expenses           9.00           9.00           9.00 Supplies Expenses                -             6.00           6.00           6.00 Utilities Expenses           6.00           6.00           6.00 Wages Expense      180.00           5.00      185.00      185.00 Total      600.00      600.00         46.00         46.00      632.00      632.00      221.00      375.00      411.00      257.00 Net Income                -        154.00      154.00 Total      375.00      375.00      411.00      411.00 Answer 2. Journal Entry Date Particulars Dr. Amt. Cr. Amt. a. Accounts Receivable         25.00 Servive Revenue         25.00 (record the Fees earned, but not billed) b. Supplies Expenses           6.00 Supplies           6.00 (record the supplies expenses) c. Insurance Expenses           8.00 Prepaid Insurance           8.00 (record the insurance expenses) d. Depreciation Expenses           2.00 Accumulated Depreciation           2.00 (record the depreciation expenses) e. Wages Expenses           5.00 Wages Payable           5.00 (record the wages due) Answer 4. Allison Cleaning Service Co. Income Statement For the Period Ended Oct 31, 2015 Revenues Service Revenue      375.00 Expenses Advertisement Expense           3.00 Depreciation Expense           2.00 Insurance Expenses           8.00 Miscellaneous Expense           2.00 Rent Expenses           9.00 Supplies Expenses           6.00 Utilities Expenses           6.00 Wages Expense      185.00 Total Expenses      221.00 Net Income      154.00