Complete and submit on Blackboard $($preferable format; Excel,Word, pdf$.$ Pictures$)$

No Google docs or other shareable$-$with$-$others format$)$ Make sure nothing gets cut off!

Question $1(5$ points$)$

Complete the worksheet below $($Adjustments and Adjusted Trial

Balance Columns, including column totals, hint; two accounts should be added$),$

using the following month$-$end adjustments.

A$)$ $$3$ of Prepaid Insurance was used $($and thus expired$)$ for the month

B$)$ A count of the Supplies showed that there are now $($at the end of the month$)$ $$7$ of supplies

on hand.

Trial Balance Adjustments Adjusted Trial Balance

Debit Credit Debit Credit Debit

Balance Balance Balance

Cash $26$

Accounts Receivable $10$

Prepaid Insurance $18$

Supplies $12$

Equipment $24$

Wages Payable $19$

Capital $53$

Sales $18$

$9090$

Question $2(20$ points$)$

$($a different question, not connected to Question $1!)$

This is the Adjusted Trial Balance as of Dec $31,2023$

Adjusted Trial Balance

Debit Credit

Balances Balances

Cash $($see below$)$

Accts Receivable $6$

Equipment $12$

Accumulated Depreciation $4$

Accounts Payable $3$

Wages Payable $3$

Capital $16$

Sales $($see below$)$

Supplies Expense $10$

Rent Expense $15$

Insurance Expense $35$

Total

Jennifer: your Cash balance is $174$ and your Fees Income balance is $226$

Amanda: your Cash balance is $175$ and your Fees Income balance is $227$

Larry: your Cash balance is $176$ and your Fees Income balance is $228$

Evan: your Cash balance is $177$ and your Fees Income balance is $229$

Lydia: your Cash balance is $178$ and your Fees Income balance is $230$

Emily: your Cash balance is $179$ and your Fees Income balance is $231$

Emylia: your Cash balance is $180$ and your Fees Income balance is $232$

Karina: your Cash balance is $181$ and your Fees Income balance is $133$

Derek: your Cash balance is $182$ and your Fees Income balance is $234$

Morgan: your Cash balance is $184$ and your Fees Income balance is $236$

Christina: your Cash balance is $186$ and your Fees Income balance is $238$

Paige: your Cash balance is $196$ and your Fees Income balance is $248$

Amaylah: your Cash balance is $197$ and your Fees Income balance is $249$

Tranika: your Cash balance is $199$ and your Fees Income balance is $251$

Angelica: your Cash balance is $204$ and your Fees Income balance is $256$

Donovan: your Cash balance is $206$ and your Fees Income balance is $258$

Jose: your Cash balance is $209$ and your Fees Income balance is $261$

Kasandra: your Cash balance is $212$ and your Fees Income balance is $264$

Enrique: your Cash balance is $215$ and your Fees Income balance is $267$

Gabriel: your Cash balance is $218$ and your Fees Income balance is $270$

A$)$ Prepare the Income Statement $($with appropriate headings and format$)$

$($Official financial statement format, NOT the worksheet version!$)$

B$)$ Prepare the Balance Sheet $($with appropriate headings and format$)$

$($hint: it must balance!$)$

C$)2$ point bonus question: Prepare the closing journal entries