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Requirement 1. Prepare a worksheet for Fuzzy Investment Advisers at December 31, 2018. The unadjusted balances have been entered for you in the trial balance columns of the worksheet. Complete the worksheet one section at a time beginning with the Adjustments section. Enter the adjustments along with the adjustment letter references(a), (b), (c), etc.into the columns as appropriate. In the following step, complete the Adjusted Trial Balance. Lastly, complete the worksheet by preparing the Income Statement and Balance Sheet columns. Be sure to calculate the total debits and credits in each step

Requirement 2. Prepare the income statement, the statement of owner's equity, and the classified balance sheet in account format. Assume there were no contributions made by the owner during the year.

Begin by preparing the income statement.

Prepare the statement of owner's equity. Assume that there were no contributions made by the owner during the year. Enter any increases in capital prior to the subtotal and any decreases to capital below the subtotal. (Exclude any zero-balance events for the period from the statement of owner's equity.)

Review the Balance Sheet columns of the worksheet completed in Requirement 1.

Prepare the classified balance sheet in account format on December 31, 2018. (If a box is not used in the balance sheet, leave the box empty; do not select a label or enter a zero. Abbreviations used: Depr.= Depreciation; Equip.=Equipment.)

Review the Balance Sheet columns of the worksheet completed in Requirement 1.

Review the Statement of Owner's Equity completed above.

Requirement 3. Prepare closing entries.(Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

Start by closing revenues.

Review the Income Statement columns of the worksheet completed in Requirement 1

- X More Info a. Unearned Revenue earned during the year, $900. b. Office Supplies on hand, $1,000. Depreciation for the year, $3,000. d. Accrued Salaries Expense, $6,000. Accrued Service Revenue, $10,000. c. Print Done 0 Abbreviations Used - X Acct. A/R Supp A/D-Equip A/P Pay. Unearn. Rev. N/P (Vt) . . W/D Rev. Ins. Exp. Exp. Depr. Exp. Account Accounts Receivable Supplies Accumulated Depreciation-Equipment Accounts Payable Payable Unearned Revenue Notes Payable (long-term) Capital Withdrawals Revenue Insurance Expense Expense Depreciation Expense-Equipment Print Done i Data Table - X Fuzzy Investment Advisers Unadjusted Trial Balance December 31, 2018 Balance Account that Debit Credit Cash 28,000 Accounts Receivable 46,000 Office Supplies 5,000 Equipment 20,000 Accumulated Depreciation Equipment $ 16,000 Accounts Payable 18,000 Salaries Payable 0 Unearned Revenue 3,000 Notes Payable (long-term) 18,000 Fuzzy, Capital 40,000 Fuzzy, Withdrawals 31,000 Service Revenue 97,000 Insurance Expense 6,000 Salaries Expense 35,000 Supplies Expense 0 Interest Expense 8,000 Rent Expense 13,000 0 Depreciation Expense-Equipment 192,000 $ 192,000 Total Fuzzy Investment Advisers Worksheet December 31, 2018 Income Balance Unadjusted Trial Balance Adjusted Trial Balance Adjustments Statement Sheet Acct. Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 28,000 A/R 46,000 Office Supp. 5,000 20.000 16.000 Equipment A/D-Equip A/P Salaries Pay Unearn. Rev. 18,000 3.000 N/P(1/t) 18.000 DDDDDDDDDDDDDDDDDD 40,000 Fuzzy, Cap Fuzzy, W/D Service Rev. 31,000 97,000 6,000 35,000 Ins. Exp. Salaries Exp. Supplies Exp. Interest Exp 8,000 Rent Exp 13,000 Depr. Exp 192,000 192.000 Total Net income or loss Requirement 2. Prepare the income statement, the statement of owner's equity, and the classified balance sheet in account format. Assume there were n Begin by preparing the income statement. Review the Income Statement columns of the worksheet completed in Requirement 1. Fuzzy Investment Advisers Income Statement Year Ended December 31, 2018 Net Income (Loss) Prepare the statement of owner's equity. Assume that there were no contributions made by the owner during the year. Enter any increases in capital prior Review the Balance Sheet columns of the worksheet completed in Requirement 1. Fuzzy Investment Advisers Statement of Owner's Equity Year Ended December 31, 2018 Fuzzy, Capital, January 1, 2018 Fuzzy, Capital, December 31, 2018 Prepare the classified balance sheet in account format on December 31, 2018. (If a box is not used in the balance sheet, leave the box empty; do not sele Review the Balance Sheet columns of the worksheet completed in Requirement 1. Review the Statement of Owner's Equity completed above. Fuzzy Investment Advisers Balance Sheet December 31, 2018 Assets Liabilities Less Owner's Equity Requirement 3. Prepare closing entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues. Review the Income Statement columns of the worksheet completed in Requirement 1. Date Accounts and Explanation Debit Credit Dec. 31 Clos. (1) Close expenses for the period. Review the Income Statement columns of the worksheet completed in Requirement 1. Date Accounts and Explanation Debit Credit Dec. 31 Clos. (2) Close Income Summary Review the Income Statement columns of the worksheet completed in Requirement 1. Date Accounts and Explanation Debit Credit Dec. 31 Clos. (3) Close withdrawals. Review the Balance Sheet columns of the worksheet completed in Requirement 1. Date Accounts and Explanation Debit Credit Dec. 31 Clos. (4) Choose from any list or enter any number in the input fields and then continue to the next

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