1/22/24, 3:33 AM Question 5 (Read Only) Read-Only. Return to the assignment to answer this question. WEEK 3 - HOMEWORK: CHAPTER 3 Question 5 The trial balances before and after adjustment for Sandhill Company at the end of its fiscal year are presented below. SANDHILL COMPANY Trial Balance August 31, 2022 Before After Adjustment Adjustment Dr. Cr. Dr. Cr. Cash $10,500 $10,500 Accounts Receivable 8,700 9,500 Supplies 2,300 500 Prepaid Insurance 4,000 2,700 Equipment 12,400 12,400 Accumulated Depreciation-Equipment $ 3,600 $ 4,300 Accounts Payable 5,900 5,900 Salaries and Wages Payable 0 1,300 Unearned Rent Revenue 1,600 600 Owner's Capital 13,900 13,900 Service Revenue 34,200 35,000 Rent Revenue 10,900 11,900 Salaries and Wages Expense 17,200 18,500 Supplies Expense 0 1,800 Rent Expense 15,000 15,000 Insurance Expense O 1,300 Depreciation Expense 0 700 https://education.wiley.com/was/ui/v2/question-player/index.html?renderMode=readOnly&questionld=e7 1274 17-a3b1-4c32-9637-6b64 1410491f&que... 1/41/22/24, 3:33 AM Question 5 (Read Only) $70,100 $70,100 $72,900 $72,900 (a) Prepare the income statement for the year. SANDHILL COMPANY Income Statement to to https://education.wiley.com/was/ui/v2/question-player/index.html?renderMode=readOnly&questionld=e7127417-a3b 1-4c32-9637-6b64 1410491f&que... 2/41/22/24, 3:33 AM Question 5 (Read Only) ( b ) Prepare the owner's equity statement for the year. SANDHILL COMPANY Owner's Equity Statement (c) Prepare the balance sheet at August 31. (List Assets in order of liquidity.) SANDHILL COMPANY Balance Sheet Assets https://education.wiley.com/was/ui/v2/question-player/index.html?renderMode=readOnly&questionld=e7127417-a3b1-4c32-9637-6b64 1410491f&que... 3/41/22/24, 3:33 AM Question 5 (Read Only) Liabilities and Owner's Equity https://education.wiley.com/was/ui/v2/question-player/index.html?renderMode=readOnly&questionld=e7127417-a3b 1-4c32-9637-6b64 1410491f&que... 4/4