Business, 26.02.2020 06:03 jalenyork6835

A completed worksheet for The King Group is given below.
The King Group
Worksheet
Month Ended December 31, 2019

Trial Balance Adjustments Adjusted Trial Income Balance Sheet
Balance Statement
Account Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 93,000 93,000 93,000 Accounts-
Receivable 12,600 12,600 12,600 Supplies 7,200 (a)3,000 4,200 4,200
Prepaid-
Advertising 28,800 (b)3,600 25,200 25,200 Equipment 75,000 75,000 75,000 Accumulated-
Depreciation—
Equipment (c)3,000 3,000 3,000 Accounts-
Payable 12,600 12,600 12,600 Delva King,-
Capital 138,000 138,000 138,000 Delva King,-
Drawing 9,000 9,000 9,000
Fees Income 92,100 92,100 92,100
Supplies Expense (a)3,000 3,000 3,000
Advertising Expense (b)3,600 3,600 3,600
Depreciation-
Expense—
Equipment (c)3,000 3,000 3,000
Salaries-
Expense 15,000 15,000 15,000
Utilities-
Expense 2,100 2,100 2,100
Totals 242700 242700 9600 9,600 245700 245700 26700 92100 219,000 153,600
Net Income 65,400 65,400
92,100 92,100 219,000 219,000

Required:
Record the adjusting entries in the general journal transactions.

Answers: 2

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A completed worksheet for The King Group is given below.
The King Group
Worksheet

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