Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3, P4, P5, P6

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[The following information applies to the questions displayed below.] A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31. The last two columns contain the adjusted trial balance as of the same date.

	Unadjusted Trial Balance						Adjusted Trial Balance
Cash	$	100,020					$	100,020
Accounts receivable		9,000						24,500
Office supplies		17,200						6,500
Prepaid insurance		9,040						3,360
Office equipment		87,000						87,000
Accum. DepreciationOffice equip.				$	23,000					$	30,000
Accounts payable					9,100						12,000
Interest payable					0						1,500
Salaries payable					0						15,000
Unearned consulting fees					26,000						12,000
Long-term notes payable					52,000						52,000
J. Logan, Capital					50,000						50,000
J. Logan, Withdrawals		7,500						7,500
Consulting fees earned					165,000						194,500
Depreciation expenseOffice equip.		0						7,000
Salaries expense		67,360						82,360
Interest expense		1,220						2,720
Insurance expense		0						5,680
Rent expense		14,540						14,540
Office supplies expense		0						10,700
Advertising expense		12,220						15,120
Totals	$	325,100		$	325,100		$	367,000		$	367,000

Problem 3-4A Part 2

2(a-1) Prepare JKL Company's income statement for the year ended July 31. 2(a-2) Prepare JKL Company's statement of owners equity for the year ended July 31. Note: J. Logan, Capital at July 31 of the prior year was $50,000, and the current-year withdrawals were $7,500. 2(b) Prepare JKL Company's the balance sheet as of July 31.