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P4-3C. As the bookkeeper of Maritime Internet Access Service of Amherst, use the information that...

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Accounting

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P4-3C. As the bookkeeper of Maritime Internet Access Service of Amherst, use the information that follows to prepare: 1. A worksheet for August, the end of the first quarter in the current fiscal year 2. An income statement for August, a statement of owner's equity for August, and a balance sheet as of August 31, 2021. Note: this statement represents three months of activity. Adjustment Data a. Two-thirds of the prepaid insurance remains prepaid at month-end. b. Computer supplies on hand, $268. c. Depreciation on computer equipment is based on the straight-line method, a four year life, and residual value of $1,400. d. Wages earned but unpaid amounted to 64 hours at $15 per hour at month-end. e. Advertising bill received, not yet paid, $245. MARITIME INTERNET ACCESS SERVICE TRIALBALANCE AUGUST 31, 2021 Dr. Cr. 70 800 10 5 000 4 2 600 1148000 Cash Prepaid Insurance Computer Supplies Computer Equipment Accumulated Depreciation, Computer Equipment Accounts Payable Lucy Northwest, Capital Lucy Northwest, Withdrawals Revenue from Services Provided Wages Expense Rent Expense Advertising Expense Totals 420 000 8 4 000 288 7.00 1/4/7800 143 8500 417 6 000 14 8500 9 2 500 22 3 1 2 00 2 2 3 1 200

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