The trial balance and adjustment data of Mylas Motors, Inc., at November 30, 2012, follow: Additional data

Question:

The trial balance and adjustment data of Myla€™s Motors, Inc., at November 30, 2012, follow:

MYLA'S MOTORS, INC. Trial Balance November 30, 2012 Balance Credit Debit Account $ 4,300 Cash Accounts receivable 26,600

Additional data at November 30, 2012:
a. Depreciation on equipment, $1,100.
b. Accrued wage expense, $600.
c. Supplies on hand, $200.
d. Prepaid insurance expired during November, $200.
e. Unearned service revenue earned during November, $4,000.
f. Accrued service revenue, $800.
Requirements
1. Complete Myla€™s worksheet for November. Key adjusting entries by letter.
2. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in account form for the month ended November 30,2012.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Financial and Managerial Accounting

ISBN: 978-0132497978

3rd Edition

Authors: Horngren, Harrison, Oliver

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