MGS Rentals, Inc.s unadjusted and adjusted trial balances at June 30, 2014, follow. Requirements 1. Make the

MGS Rentals, Inc.’s unadjusted and adjusted trial balances at June 30, 2014, follow.

Requirements
1. Make the adjusting entries that account for the differences between the two trial balances.
2. Compute MGS Rental’s total assets, total liabilities, net income, and totalequity.

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A1 MGS Rentals, Inc. Trlal Balance Worksheet June 30, 2014 Trial Balance Adjusted Trial Balance Account Debit CreditDebit Credit S00 6,200 7,500 6,830 S00 3,800 900 1,000 70,100 Cash counts receivable Interest receivable Note receivable 3,800 Supplies 9 Prepaid insurance 1,200 2,400 70,100 Building 11 Accumulated depreciation, building 12 Accounts payable 13 Wages payable $ 9,100 6,800 1,700 19,000 $11,000 6,800 850 1,280 19,000 40,200 4 Unearned rental revenue 15 Common stock Retained earnings 40,200 1 Dividends 3,800 3800 18 Rental revenue 19 Interest revenue 2 Depreclation expense 19,700 800 20,750 1,300 1900 300 100 2,450 500 Supplies expense Utilities expense 23 Wage expense 24 Property tax expense 25 Insurance expense 2: Total 100 1,600 600