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Saved Exercise 4-3 Preparing a work sheet LO1 The December 31, 2020, unadjusted trial balance for Musical Sensations after its second year of operations follows: MUSICAL SENSATIONS Work Sheet December 31, 2020 w Account Cash Accounts receivable Office supplies Musical equipment Accumulated depreciation, musical equipment Accounts payable Unearned performance revenue Jim Daley, capital Jim Daley, withdrawals Performance revenue Salaries expense Travelling expense Totals Unadjusted Trial Balance Debit Credit $ 7,600 14,300 800 126,000 $ 21,700 4,300 12,500 155, 410 52, 100 139,000 87,000 45,110 $332,910 $332,910 Following are the additional information: a. A review of the Unearned Performance Revenue account revealed a balance remaining of $9,275. b. Annual depreciation on the musical equipment is $21,700. c. Accrued salaries at December 31 totalled $6,200. d. It was determined that $655 of the balance in the Office Supplies account had been used. 4 Homework Assignment i Saved Help Save & Exit Submit $ 332,910 $ 332,910 Totals Depreciation expense, musical equipment Salaries payable Office supplies expense Totals Totals ces 4. Calculate the balance in the capital account as it would appear on the December 31, 2020, balance sheet. Balance in the capital account Help Save & Exit Submit MUSICAL SENSATIONS 1 Work Sheet December 31, 2020 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement 40 points Account Debit Credit Debit Credit Debit Credit Debit Credit $ eBook 7,600 14,300 800 126,000 References Cash Accounts receivable Office supplies Musical equipment Accumulated depreciation, musical equipment Accounts payable Uneared performance revenue Jim Daley, capital Jim Daley, withdrawals Performance revenue 21,700 4,300 12,500 155,410 52,100 139.000 Salaries expense Travelling expense Totals Depreciation expense, musical equipment 87,000 45.110 332,910 $ $ 332.910 Activate Window