A partially completed worksheet for Rissa Potter, CPA, for the month ending June 30, 20X1, is shown below.

INSTRUCTIONS
1. Record the balances as of June 30 in the ledger accounts.
2. Prepare the worksheet.
3. Journalize (use 3 as the journal page number) and post the adjusting entries. Use account number 121 for Supplies; 131 for Computers; 142 for the Accumulated Depreciation account; 309 for Income Summary; 517 for Supplies Expense; 519 for Travel Expense; and 523 for Depreciation Expense.
4. Journalize (use 4 as the journal page number) and post the closing entries.
5. Prepare a postclosing trial balance.
Analyze: 

What is the reported net income for the month of June for Rissa Potter, CPA?

Transcribed Image Text:

1 Cash 2 Accounts Receivable 3 Supplies 4 Computers 5 Accumulated Depreciation-Computers 6 7 8 9 13 14 ACCOUNT NAME Salaries Expense 10 11 Supplies Expense 12 Depreciation Expense-Computers 15 16 17 Accounts Payable Rissa Potter, Capital Rissa Potter, Drawing Fees Income Travel Expense Utilities Expense Totals Rissa Potter, CPA Worksheet Month Ended June 30, 20X1 TRIAL BALANCE DEBIT 31 950 00 11 340 00 15 750 00 28 800 00 1200000 37 72500 540000 270000 145 6 6 5 00 CREDIT 288000 1260000 62 235 00 67 950 00 145 665 00 DEBIT ADJUSTMENTS (a) 2 700 00 (b) 24000 294000 CREDIT (a) 270000 (b) 24000 294000