Question: Please complete the steps in Case 1 on pages 603-614 before answering the following questions. Required: What are the total debit and credit balances on

Please complete the steps in Case 1 on pages 603-614 before answering the following questions.

Required:

  1. What are the total debit and credit balances on the unadjusted trial balance?
  2. What are the total debit and credit balances on your Adjusted trial balance?
  3. What is the Statement Ending Balance on the reconciliation report?
  4. What is the rent expense balance?
  5. What is the depreciation expense for computer equipment?
  6. What is the depreciation expense for furniture and equipment?
  7. What is the amount of total income?
  8. How much net income (or net loss) is reported on December 31?
  9. What is the account balance in the Notes Payable account?
  10. What is the total assets balance on December 31?
  11. Is there an increase or decrease in Cash for the month of December?
  12. What is the balance in the Owners Equity account?

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