1.Set up balance coloumn account for Rainmaker Environment Consultants and enter the balance listed in the unadjusted trial balance.

2.Complete the following T- Account with tge adjusting entries for October 31,2023.

3.prepare adjusted trial balance.

4. use the adjusted trial balance to prepare an income statement.

5.use tge adjusted trial balance to prepare a statement of changes in equity.

6. Assume that the owner , jeff moore, made no investments during the year.
 
 

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Problem 3-10A Posting, adjusted trial balance, and preparing financial statements LO6, 7 Rainmaker Environmental Consultants is just finishing its second year of operations. The company's unadjusted trial balance at October 31, 2023, follows: Acct.No. 101 Cash 106 Accounts receivable 109 Interest receivable 111 Notes receivable 126 Supplies 128 Prepaid insurance 131 Prepaid rent 161 Office furniture 162 Accumulated depreciation, office furniture 201 Accounts payable 210 233 301 302 401 Hages payable Unearned consulting revenue Jeff Moore, capital Jeff Moore, withdrawals Consulting revenue Interest income RAINMAKER ENVIRONMENTAL CONSULTANTS Unadjusted Trial Balance October 31, 2023 Account 409 601 Depreciation expense, office furniture. 622 637 640 650 Mages expense Insurance expense Rent expense Supplies expense Totals Debit $ 26,300 64,000 0 53,000 5,600 3,910 27,900 87,000 28,300 0 195,000 Credit $ 29,500 18,300 26,600 233,680 235,020 510 45,500 7,100 $543,610 $543,610 Problem 3-10A Posting, adjusted trial balance, and preparing financial statements LO6, 7 Rainmaker Environmental Consultants is just finishing its second year of operations. The company's unadjusted trial balance at October 31, 2023, follows: Acct.No. 101 Cash 106 Accounts receivable 109 Interest receivable 111 Notes receivable 126 Supplies 128 Prepaid insurance 131 Prepaid rent 161 Office furniture 162 Accumulated depreciation, office furniture 201 Accounts payable 210 233 301 302 401 Hages payable Unearned consulting revenue Jeff Moore, capital Jeff Moore, withdrawals Consulting revenue Interest income RAINMAKER ENVIRONMENTAL CONSULTANTS Unadjusted Trial Balance October 31, 2023 Account 409 601 Depreciation expense, office furniture. 622 637 640 650 Mages expense Insurance expense Rent expense Supplies expense Totals Debit $ 26,300 64,000 0 53,000 5,600 3,910 27,900 87,000 28,300 0 195,000 Credit $ 29,500 18,300 26,600 233,680 235,020 510 45,500 7,100 $543,610 $543,610

Answer rating: 100% (QA)

To complete the requested tasks lets go through each step one by one 1 Set up balance column accounts for Rainmaker Environmental Consultants and enter the balances listed in the unadjusted trial bala... View the full answer