Question: The adjusted ledger accounts of RD Consulting on December 31, 2019, appear as follows.
|
Account Name
|
Balance
|
|
Cash
|
7,600
|
|
Accounts Receivable
|
2,200
|
|
Supplies
|
2,050
|
|
Prepaid Insurance
|
760
|
|
Equipment
|
20,000
|
|
Accumulated Depreciation-Equipment
|
4,250
|
|
Accounts Payable
|
3,400
|
|
Roger Dye, Capital
|
16,300
|
|
Roger Dye, Drawing
|
4,100
|
|
Fees Income
|
19,300
|
|
Supplies Expense
|
810
|
|
Insurance Expense
|
660
|
|
Depreciation Expense-Equipment
|
610
|
|
Salaries Expense
|
3,400
|
|
Utilities Expense
|
1,060
|
Required:
Question 1: Prepare the Balance Sheet and Income Statement columns of the worksheet.
Question 2: Prepare the closing entries for RD Consulting on December 31, 2019. All accounts have normal balances and adjusting entries have been made.
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