Joe Clark has his own Desktop Publishing business.  In may you as the bookkeeper prepared a Trial Balance and then reviewed the accounts.
The following items became apparent upon review of the accounts in the trial balance:
No adjusting entries have been made thus far this year.
1 The office supplies on had were counted and a value of $100 was attributed to the remaining items
2 The prepaid rent was $1,200 for 3 months rent paid on May 1 2020.
3 The equipment was purchased on January 1 2020 and has a 5 year life
4 Salaries earned but not yet paid amount to $350
5 Services to clients that have been completed but not yet billed total $2,000
6 Received a telephone bill for $200
7 The unearned revenue was for an order paid by a customer for a parts.  $1000 of the order has been shipped to the customer
Required:  

There are multiple steps to the question.  Please scroll down to make sure you see each section

Required:
1. Post the adjusting entries to the Worksheet below
2. Complete the Adjusted Trial Balance on the Worksheet
3. Complete the Income Statement on the Worksheet
4. Complete the Balance Sheet on the Worksheet

Transcribed Image Text:

Adjusting Entries Date 20 Marks 31-May Supplies Expense Office Supplies 31-May Rent Expense Prepaid Rent 31-May Amortization Expense Accumulated Amortization 31-May Salaries Expense Salary Payable 31-May Account Receivable Unearned Revenue 31-May Telephone Expense Account Payable 31-May Unearned Revenue Sales Your Score Debit 500 400 500 350 2000 200 1000 Credit 500 400 500 350 2000 200 1000 Adjusting Entries Date 20 Marks 31-May Supplies Expense Office Supplies 31-May Rent Expense Prepaid Rent 31-May Amortization Expense Accumulated Amortization 31-May Salaries Expense Salary Payable 31-May Account Receivable Unearned Revenue 31-May Telephone Expense Account Payable 31-May Unearned Revenue Sales Your Score Debit 500 400 500 350 2000 200 1000 Credit 500 400 500 350 2000 200 1000

Answer rating: 100% (QA)

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