The unadjusted trial balance of Kings, Inc. at August 31, 20x6 was as follows: Cr...
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The unadjusted trial balance of Kings, Inc. at August 31, 20x6 was as follows: Cr $ Kings, Inc. Trial Balance as at August 31, 20x6. Dr $ Cash 9,200 Accounts receivable 1,500 Prepaid rent 2,400 Supplies 2,200 Furniture 81,000 Accumulated depreciation - furniture Accounts payable Share capital Retained earnings Dividends 3,600 Service revenue Salary expense 3,000 Utilities expense 520 103,420 3,900 3,500 15,000 71,020 10,000 103,420 a. Adjustment data at August 31, 20x6 include the following: Accrued service revenue at August 31, $2,000. b. Prepaid rent of $2,400 was for the period from 1 August to 31 October 20x6. Adjust prepaid rent expired for the month of August. Supplies used during August, $1,820. d. Depreciation on furniture for the month. The furniture's expected useful life is five years. Accrued salary expense at August 31, $3,120. c. e. Requirements 1. Prepare the adjusting entries for items (a) to (e). 2. Prepared an Income statement for the month ended 31 August 20x6. 3. Prepared a Statement of changes in equity for the month ended 31 August 20x6. 4. Prepared a Statement of financial position as at 31 August 20x6. | En u
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