The unadjusted trial balance of Fleming Investment Advisers at December 31, 2018, follows:

Adjustment data at December 31, 2018:
a. Unearned Revenue earned during the year, $700.
b. Office Supplies on hand, $3,000.
c. Depreciation for the year, $3,000.
d. Accrued Salaries Expense, $4,500.
e. Accrued Service Revenue, $9,000.
Requirements
1. Prepare a worksheet for Fleming 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.

Transcribed Image Text:

FLEMING INVESTMENT ADVISERS Unadjusted Trial Balance December 31, 2018 Balance Debit Credit Account Title $ 25,000 Cash Accounts Receivable 51,000 Office Supplies 7,500 26,000 Equipment $ 19,000 Accumulated Depreciation-Equipment Accounts Payable 14,000 Salaries Payable Unearned Revenue 4,500 Notes Payable (long-term) 26,000 Common Stock 15,000 Retained Earnings Dividends 5,500 28,000 Service Revenue 99,000 Insurance Expense 2,500 Salaries Expense 33,000 Supplies Expense Interest Expense Rent Expense Depreciation Expense-Equipment 3,000 7,000 $ 183,000 Total $ 183,000