shown below Account 4400 12000 14400 Insurance 52000 39000 5

shown below Account 4,400 12,000 14,400 Insurance 52,000 39,000 5,200 8.400 14,000 Fees Income 2,800 o. The a c. The 1, 2019, has an estimated useful life of 5 years with no salvage value. The firm uses the September 30, 2019 INCOME S

Solution

WORKSHEET 30.09.2019 Account Names Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 23,000 23,000 23,000 Accounts Receivable 11,000 11,000 11,000 Office Supplies 4,400 1200 3200 3200 Prepaid Insurance 12,000 2,000 10,000 10,000 Equipment 14400 14400 14400 Accumulated Depreciation 240 240 240 Accounts payable 9200 9,200 9,200 Jane Buffet Cappital 52,000 52,000 52,000 Jane Buffet withdrawals 5,000 5,000 5,000 Fees income 39,000 39,000 39,000 Advertisement expense 5,200 5,200 5,200 Rent expense 8,400 8,400 8,400 Salaries expense 14000 14,000 14000 Supplies expense 0 1200 1,200 1,200 Insurance expense 0 2000 2,000 2,000 Utilities expense 2,800 2,800 2,800 Depreciation expense 0 240 240 240 Total 100,200 100200 3,440 3,440 128,520 128,520 33,840 39,000 66,600 61,440 Net Income 5,160 5,160 39,000 39,000 66,600 66,600