1. The insurance expired during the month of January was $750
2. The depreciation of equipment is $2500, the depreciation of the truck is $1,300
4. Wages accrued but not paid during the month was $3,200
5. Supplies used during the month was $1,500
Required:
Record the adjustments above in the work sheet. Make sure the totals on columns 4 and 5 are in balance.
Prepare the adjusted trial balance. Make sure the totals on columns 6 and 7 are in balance.
Prepare all 3 financial statements: Income Statement, Statement of Owner's Equity (aka Retained Earnings Statement), and Balance Sheet.