The balances in the ledger of Good Landscape Services as of January 31, 2014 bef

ID: 2378770 • Letter: T

Question

The balances in the ledger of Good Landscape Services as of January 31, 2014 before adjustments are as follows:

Cash

$ 6,750

Retained Earnings

$22,925

Supplies

3,900

Dividends

3,425

Prepaid Insurance

8,400

Service Revenue

56,300

Equipment

41,750

Salary Expense

24,300

Accumulated Depreciation

9,950

Rent Expense

6,000

Capital Stock

6,850

Miscellaneous Expense

1,500

Adjustment data are as follows: supplies on hand, January 31, $900; insurance expired for January, $1,100; depreciation on equipment for January, $1,600; salaries accrued, January 31, $1,650.

(a)

Prepare a ten-column work sheet for Good Landscape Services for January, 2014.

(b)

On the basis of the work sheet in (a), present the financial statements in good order note that the balance sheet should be classified.

(c)

On the basis of the work sheet in (a), journalize the closing entries as of January 31, 2014.