Preparing a worksheet and the financial statements The trial balance and adjustment data of Myla’s Motors, Inc., at November 30, 2012, follow:
|
MYLA’S MOTORS, INC. Trial Balance November 30, 2012 |
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|
|
Balance |
|
|
Account |
Debit |
Credit |
|
Cash |
$ 4,300 |
|
|
Accounts receivable |
26,600 |
|
|
Supplies |
500 |
|
|
Prepaid insurance |
1,700 |
|
|
Equipment |
53,500 |
|
|
Accumulated depreciation |
|
$36,400 |
|
Accounts payable |
|
13,400 |
|
Wages payable |
|
|
|
Unearned service revenue |
|
8,000 |
|
Common stock |
|
6,000 |
|
Retained earnings |
|
13,700 |
|
Dividends |
3,800 |
|
|
Service revenue |
|
16,000 |
|
Depreciation expense |
|
|
|
Wage expense |
1,600 |
|
|
Insurance expense |
|
|
|
Utilities expense |
1,500 |
|
|
Supplies expense |
|
|
|
Total |
$93,500 |
$93,500 |
Additional data at November 30, 2012:
- Depreciation on equipment, $1,100.
- Accrued wage expense, $600.
- Supplies on hand, $200.
- Prepaid insurance expired during November, $200.
- Unearned service revenue earned during November, $4,000.
- Accrued service revenue, $800.
Requirements
1. Complete Myla’s worksheet for November. Key adjusting entries by letter.
2. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in account form for the month ended November 30, 2012.