Question: Use the information given in problem P4-1C from the textbook to prepare the following: 1. A worksheet for the month of May. 2. Journalize the
Use the information given in problem P4-1C from the textbook to prepare the following: 1. A worksheet for the month of May. 2. Journalize the adjusting entries. 3. Prepare the 3 financial statements - Income Statement, Statement of Owner's Equity and Balance Sheet for the end of May. Note 1: this problem in the textbook asks for the worksheet and journalize the adjustments for one year - ignore these instructions. This assignment is using the information provided in P4-1C and preparing the above for one month. Note 2: the Disposal Fees Revenue is given in the trial balance in the textbook as 5272. This is a typo and the correct amount is 52720. The trial balance given in the worksheet in the blank excel file is correct Account Titles Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr Cash 22210.00 Accounts Receivable 1200.00 Prepaid Insurance 681.00 Disposal Supplies 1542.00 Disposal Equipment 11740.00 Accum. Depr., Disp. Equip. 7010.00 Building 48000.00 Accum. Depr., Building 20700.00 Accounts Payable 4660.00 A. Hoang, Capital 48681.00 A. Hoang, Withdrawals 16742.00 Disposal Fees Revenue 52720.00 Wages Expense 28240.00 Utilities Expense 2544.00 Advertising Expense 872.00 133771.00 133771.00
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