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Given the following trail Balance and adjustment data for the A Ltd , Your task...

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Accounting

Given the following trail Balance and adjustment data for the A Ltd , Your task is prepare a work-sheet for the month of November, the first month of operations in a new fiscal year.

The A Ltd Trial Balance November 30, 2021
Dr Cr
Cash 381300
Accounts Receivable 282000
Prepaid Rent 85000
Painting Supplies 92100
Studio Equipment 598500
Accumulated Depreciation , Studio Equipment 199500
Accounts payable 178800
A Ltd , Capital 582800
Painting Revenue 781600
Advertising Expense 51000
Utilities Expense 27800
Wages Expense 225000
Totals 1742700 1742700

Completing a worksheet

Net income $3690.25

Adjustment data :

1)Painting supplies on hand, $595

2)Prepaid rent represents the first and last months rent on a new office lease singed November 1, 2018.

3)Depreciation on studio equipment is based on straight-line, five year life and a residual value of $480

4)Wages earned but un-paid amounted to 24.5 hours at $10 per hour

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