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The account balances appearing on trial balance (below) were taken from general ledger of John's Copy Shop at 30th September. Additional information for the month of September which has not yet been recorded in the accounts is as given: (a) A physical count of supplies shows $300 on hand at September 30. (b) The amount of insurance that expired in month of September was $200. (c) Depreciation on apparatus for September was $400. (d) Rent owed on the copy shop for month of September was $600 but will not be paid until October. JOHN'S COPY SHOP Worksheet For the Month Ended 30th September, 2008 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Titles Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 1,000 Supplies 1,100 Prepaid Insurance 2,200 Equipment 24,000 Accum. Depreciation- Equipment 4,500 Accounts Payable 2,400 Notes Payable 4,000 John, Capital 15,300 John, Drawing 2,400 Copy Revenue 4,900 Utilities Expense 400 Totals 31,100 31,100 Supplies Expense Insurance Expense Depreciation Expense Rent Expense Rent Payable Totals Net Income Totals Instructions Using given information, complete the worksheet on the subsequent page for Mann's Copy Shop for the month of September. You have to prepare for the month ending 30th September, 2008: 1. The adjusting entries (Journalize) for the month ending 30th September, 2008 (If required create T accounts and post the adjusting entries to the ledgers) 2. The entries needed to complete the closing of the accounts. (If required create T accounts and post the closing entries to the ledgers) You are to prepare for the month ending 30th September, 2008: 1. An income statement. 2. An owner's equity statement. 3. A balance sheet.
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