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The adjusted trial balance for Turnquist Company is shown below. TURNQUIST COMPANY Trial Balance August 31,...

The adjusted trial balance for Turnquist Company is shown below. TURNQUIST COMPANY Trial Balance August 31, 2017 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $10,100 $10,100 Accounts Receivable 8,600 10,000 Supplies 2,500 600 Prepaid Insurance 3,800 2,500 Equipment 14,300 14,300 Accumulated Depreciation-Equipment $ 3,600 $ 4,400 Accounts Payable 5,800 5,800 Salaries and Wages Payable 0 1,100 Unearned Rent Revenue 1,400 700 Owner’s Capital 15,600 15,600 Service Revenue 33,800 35,200 Rent Revenue 11,200 11,900 Salaries and Wages Expense 16,900 18,000 Supplies Expense 0 1,900 Rent Expense 15,200 15,200 Insurance Expense 0 1,300 Depreciation Expense 0 800 $71,400 $71,400 $74,700 $74,700 Prepare the income statement for the year. TURNQUIST COMPANY Income Statement $

1. Prepare Income statement for the year 2.Prepare owners Equity for the year 3.Prepare balance sheet at August 31 4.Liability and owners Equity

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ekkarill92 answered 2 years ago
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