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The trial balance of Huston Investment Advisers as at December 31,2012, follows: Huston Investment...

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Accounting

The trial balance of Huston Investment Advisers as at December 31,2012, follows:
Huston Investment Advisers
Trial Balance
December 31,2012
Balance
Account
Debit
Credit
Cash
$32,000
Accounts Receivable
46,000
Supplies
3,000
Equipment
25,000
Accumulated depreciation
Accounts payable
$11,000
15,000
Salary payable
Unearned service revenue
2,000
Note payable, long-term
39,000
Huston, capital
38,000
Huston, drawing
50,000
Service revenue
97,000
Salary expense
32,000
Supplies expense
Depreciation expense
Interest expense
3,000
Rent expense
9,000
Insurance expense
2,000
Total
$202,000
$202,000 Adjustment data at December 31,2012;
a. Unearned service revenue earned during the year, 5500.
b. Supplies on hand, $1,000.
c. Depreciation for the year, $6,000.
d. Accrued salary expense $1,000.
e. Accrued service revenue, $4,000.
Requirement:
1. Prepare adjusting journal entries.
2. Journalize the closing entries.
Prepare the income statement, the statement of owner's equity, and the classified balance sheet in report form.

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