Accounting

Edit File Edit Format View Window Help Times New Rom... Regu ar 12B 15 21. Prepare an income statement from the adjusted trial balance of Hanson Storage. 22. Prepare a statement of retained earnings from the adjusted trial balance of Hanson Storage. 23. Prepare a balance sheet from the adjusted trial balance of Hanson Storage 24. In general journal form, record the December 31 adjusting entries for the following transactions and events. Assume that December 31 is the end of the annual accounting period. a. The Prepaid Insurance account shows a debit balance of $2,340, representing the cost of a three-year fire insurance policy that was purchased on October 1 of the current year b. The Office Supplies account has a debit balance of $500; a year-end inventory count reveals $100 of supplies still on hand c. On Novembert of the current year, Rent Earned was credited for $3,750. This amount represented the rent earned for a three-month period beginning November 1 d. Estimated depreciation on office equipment is $800 e. Accrued salaries amount to $1,400 25. Complete the following information: Sales S436,800, Cost of Goods Sold Gross Profit $124,300, Expenses--_.-Net Income S24.300