Question: Given the following trial balance and adjustment data for The Debbie Rose Art Studio of Richmond, your task is to prepare a worksheet for the

Given the following trial balance and adjustment data for The Debbie Rose Art Studio of Richmond, your task is to prepare a worksheet for the month of November, the first month of operations in a new fiscal year.
THE DEBBIE ROSE ART STUDIO
TRIAL BALANCE
NOVEMBER 30, 2015

Adjustment Data
a. Painting supplies on hand, $595.
b. Prepaid rent represents the first and last months' rent on a new office lease signed November 1, 2015.
c. Depreciation on studio equipment is based on straight-line, five-year life and a residual value of $480.
d. Wages earned but unpaid amounted to 24.5 hours at $10 per hour?

Cr. Dr. Cash 38 1300 282000 85000 Accounts Receivable Prepaid Rent Painting Supplies Studio Equipment Accumulated Depreciation, Studio Equipment Accounts Payable Debbie Rose Allen, Capital Painting Revenue Advertising Expense Utilities Expense Wages Expense 92100 598500 1995 00 178800 5 82800 781600 51000 27800 225000 17 42700 Totals 17 42700

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