Using the trial balance in Figure 4.28, and adjustment data of Kylers Moving Co., prepare

a. A worksheet for the month of January.

b. An income statement for January, a statement of owners equity for January, and a balance sheet

as of January 31, 201X.

Adjustment Data to Update Trial Balance

a. Insurance expired, $450.

b. Moving supplies on hand, $400.

c. Depreciation on moving truck, $350.

d. Wages earned but unpaid, $180.

Kylers Moving Co.

Trial Balance

January 31, 201X

Debits Credits

A. Cash 11,000.00

B. Prepaid Insurance 1,800.00

C. Moving Supplies 1,000.00

D. Moving Truck 16,000.00

E. Accumulated Depreciation, Moving Truck 5,500.00

F. Accounts Payable 2,700.00

G. K. Hilton, Capital 19,228.00

H. K. Hilton, Withdrawal 1,300.00

I. Revenue from Moving 8,300.00

J. Wages Expense 3,150.00

K. Rent Expense 775.00

L. Advertising Expense 703.00

Totals 35,728.00 35,728.00

CHAPTER 4 The Accounting Cycle Continued 157 L01 (60 MIN) PT/QB 68-3. Using the trial balance in Figure 4.28, and adjustment data of Kyler's Moving Co., prepare 1. a worksheet for the month of January, 2. an income statement for January, a statement of owner's equity for January, and a balance sheet as of January 31, 201X. Adjustment Data to Update Trial Balance a. Insurance expired, $450. b. Moving supplies on hand, $400. c. Depreciation on moving truck, $350. d. Wages earned but unpaid, $180. FIGURE 4.28 KYLER'S MOVING CO. TRIAL BALANCE JANUARY 31, 201X Dr. 1100 000 1 8 00 00 10 0000 16 0 0 0 0 Cash Prepaid Insurance Moving Supplies Moving Truck Accumulated Depreciation, Moving Truck Accounts Payable K. Hilton, Capital K. Hilton, Withdrawals Revenue from Moving Wages Expense Rent Expense Advertising Expense 550 000 270 000 1922800 130 000 8300.00 Check Figure: Net Income $2,092 3 1 5 000 177 500 70300 35 72 800 35 72800