The unadjusted trial balance of Kings, Inc. at August 31, 20x6 was as follows: Kings, Inc....

  

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The unadjusted trial balance of Kings, Inc. at August 31, 20x6 was as follows: Kings, Inc. Trial Balance as at August 31, 20x6 Dr Cr $ 9,200 1,500 2,400 2,200 81,000 $ Cash Accounts receivable Prepaid rent Supplies Furniture Accumulated depreciation furniture Accounts payable Share capital Retained earnings 3,900 3,500 15,000 71,020 Dividends 3,600 Service revenue 10,000 Salary expense Utilities expense 3,000 520 103,420 103,420 Adjustment data at August 31, 20x6 include the following: Accrued service revenue at August 31, $2,000. b. Prepaid rent of $2,400 was for the period from 1 August to 31 October 20x6. Adjust prepaid rent expired for the month of August. Supplies used during August, $1,820. d. Depreciation on furniture for the month. The furniture's expected useful life is five а. с. years. е. Accrued salary expense at August 31, $3,120. Requirements 1. Prepare the adjusting entries for items (a) to (e). 2. Prepared an Income statement for the month ended 31 August 20x6. 3. Prepared a Statement of changes in equity for the month ended 31 August 20x6. 4. Prepared a Statement of financial position as at 31 August 20x6. 奧 En 2 The unadjusted trial balance of Kings, Inc. at August 31, 20x6 was as follows: Kings, Inc. Trial Balance as at August 31, 20x6 Dr Cr $ 9,200 1,500 2,400 2,200 81,000 $ Cash Accounts receivable Prepaid rent Supplies Furniture Accumulated depreciation furniture Accounts payable Share capital Retained earnings 3,900 3,500 15,000 71,020 Dividends 3,600 Service revenue 10,000 Salary expense Utilities expense 3,000 520 103,420 103,420 Adjustment data at August 31, 20x6 include the following: Accrued service revenue at August 31, $2,000. b. Prepaid rent of $2,400 was for the period from 1 August to 31 October 20x6. Adjust prepaid rent expired for the month of August. Supplies used during August, $1,820. d. Depreciation on furniture for the month. The furniture's expected useful life is five а. с. years. е. Accrued salary expense at August 31, $3,120. Requirements 1. Prepare the adjusting entries for items (a) to (e). 2. Prepared an Income statement for the month ended 31 August 20x6. 3. Prepared a Statement of changes in equity for the month ended 31 August 20x6. 4. Prepared a Statement of financial position as at 31 August 20x6. 奧 En 2

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Debit Credit 3 Statement of changes in Equity Share capital Beginning Add Issued during the month Sh... View the full answer