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  1. business
  2. accounting
  3. other data: 1. supplies on hand total $380. 2. dep

Other data: 1. Supplies on hand total $380. 2. Depreciation is $1,000 per quarter. 3....

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Question

Accounting

Other data:

1. Supplies on hand total $380.

2. Depreciation is $1,000 per quarter.

3. Interest accrued on 6-month note payable, issued January 1, $300.

4. Insurance expires at the rate of $200 per month.

5. Services provided but unbilled at March 31 total $530.

Instructions

  1. Journalize the adjusting entries from the adjustments columns of the worksheet.
  2. Enter the trial balance on a worksheet and complete the worksheet.

c. Prepare an income statement and a retained earnings statement for the quarter and a classified balance sheet at March 31.

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