The unadjusted trial balance of Fleming Investment Advisers at December 31, 2024, follows:

Adjustment data at December 31, 2024: 

a. Unearned Revenue earned during the year, $700. 

b. Office Supplies on hand, $3,000. 

c. Depreciation for the year, $3,000. 

d. Accrued Salaries Expense, $4,500. 

e. Accrued Service Revenue, $9,000.

Requirements

1. Prepare a worksheet for Fleming Investment Advisers at December 31, 2024. 

2. Prepare the income statement, the statement of owner’s equity, and the classified balance sheet in account format. 

3. Prepare closing entries.

Transcribed Image Text:

FLEMING INVESTMENT ADVISERS Unadjusted Trial Balance December 31, 2024 Account Title Cash Accounts Receivable Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Fleming, Capital Fleming, Withdrawals Service Revenue Insurance Expense Salaries Expense Supplies Expense Interest Expense Rent Expense Depreciation Expense-Equipment Total Balance Debit $ 25,000 51,000 7,500 26,000 28,000 2,500 33,000 3,000 7,000 $ 183,000 Credit $ 19,000 14,000 4,500 26,000 20,500 99,000 $ 183,000