The unadjusted trial balance of Farish Investment Advisers at December

The unadjusted trial balance of Farish Investment Advisers at December 31, 2018, follows:
FARISH INVESTMENT ADVISERS Unadjusted Trial Balance December 31, 2018 Balance Credit Account Title Debit $ 30,000 Cash A

Adjustment data at December 31, 2018:
a. Unearned Revenue earned during the year, $800.
b. Office Supplies on hand, $4,500.
c. Depreciation for the year, $4,500.
d. Accrued Salaries Expense, $5,000.
e. Accrued Service Revenue, $6,500.
Requirements
1. Prepare a worksheet for Farish Investment Advisers at December 31, 2018.
2. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in account format.
3. Prepare closing entries.

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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