a. Post all adjusting journal entries to your T-accounts b. Prepare a trial balance showing that...

 

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a. Post all adjusting journal entries to your T-accounts b. Prepare a trial balance showing that DR = CR after all entries are posted. c. Prepare a balance sheet, income statement, and statement of retained earnings as of and for the month ended Jan 30. (Ctrl) HOC Trial Balance For the Month Ended Jan 30 Debit Credit Cash $23,850 Accounts Receivable 1,400 Supplies 500 Prepaid Rent 3,000 Furniture 12,000 Computer Equipment 3,600 Deferred Revenue 8,000 Common Stock 32,000 Consulting Services Revenue 4,650 Advertising Expense 300 $44,650 $44,650 At Jan 30, you learn the following information: 1. The furniture purchased on Jan 1 has an estimated life of 5 years and will be. depreciated on a straight-line basis. 2. The computer equipment purchased on Jan 2 has an estimated life of 3 years and a salvage value of $200 and will be depreciated on a straight-line basis. 3. An inventory of office supplies at Jan 30 indicates that there are $120 worth of supplies on hand at month-end. 4. DCH has occupied the office on Apple Street since signing the lease on Jan 3. 5. Due to a printing error, the two advertisements paid for on Jan 5 did not run as scheduled on Jan 23...They will instead be run on July 4. 6. DCH worked with an attorney in Ian, but has yet to be billed for her services. DCH estimates that the legal work performed should cost about $350. 7. Although the contract signed on Jan 20 was not scheduled to start until July 1, DCH was asked by WBI to begin their consulting work earlier, DCH performed $1,200 of consulting services under this contract during the month of Jan. a. Post all adjusting journal entries to your T-accounts b. Prepare a trial balance showing that DR = CR after all entries are posted. c. Prepare a balance sheet, income statement, and statement of retained earnings as of and for the month ended Jan 30. (Ctrl) HOC Trial Balance For the Month Ended Jan 30 Debit Credit Cash $23,850 Accounts Receivable 1,400 Supplies 500 Prepaid Rent 3,000 Furniture 12,000 Computer Equipment 3,600 Deferred Revenue 8,000 Common Stock 32,000 Consulting Services Revenue 4,650 Advertising Expense 300 $44,650 $44,650 At Jan 30, you learn the following information: 1. The furniture purchased on Jan 1 has an estimated life of 5 years and will be. depreciated on a straight-line basis. 2. The computer equipment purchased on Jan 2 has an estimated life of 3 years and a salvage value of $200 and will be depreciated on a straight-line basis. 3. An inventory of office supplies at Jan 30 indicates that there are $120 worth of supplies on hand at month-end. 4. DCH has occupied the office on Apple Street since signing the lease on Jan 3. 5. Due to a printing error, the two advertisements paid for on Jan 5 did not run as scheduled on Jan 23...They will instead be run on July 4. 6. DCH worked with an attorney in Ian, but has yet to be billed for her services. DCH estimates that the legal work performed should cost about $350. 7. Although the contract signed on Jan 20 was not scheduled to start until July 1, DCH was asked by WBI to begin their consulting work earlier, DCH performed $1,200 of consulting services under this contract during the month of Jan.