Question: The completed worksheet for JT's Accounting Services for the month ended December 31, 2013, appears on pages 150-151. INSTRUCTIONS 1. Prepare an income statement. 2.

The completed worksheet for JT's Accounting Services for the month ended December 31, 2013, appears on pages 150-151.

INSTRUCTIONS

1. Prepare an income statement.

2. Prepare a statement of owner's equity. The owner made no additional investments during the month.

3. Prepare a balance sheet.

Analyze:

By what total amount did the value of assets reported on the balance sheet decrease due to the adjusting entries?

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