This is one question.. The wording is the top half, the chart is the second half

Question

This is one question.. The wording is the top half, the chart is the second half.

Paula Judge owns Judge Creative Designs. The trial balance of the firm for January 31, 2019, the first month of operations, is shown below End-of-the-month adjustments must account for the following items: a. Supplies were purchased on January 1, 2019, inventory of supplies on January 31, 2019, is $600. b. The prepaid advertising contract was signed on January 1, 2019, and covers a four-month period. c. Rent of $1,100 expired during the month d. Depreciation is computed using the straight-line method. The equipment has an estimated useful life of 10 years with no salvage value Required 1. Complete the worksheet for the month 2. Prepare an income statement, statement of owner's equity, and balance sheet. No additional investments were made by the owner during the month 3. Journalize and post the adjusting entries. Analyze If the adjusting entries had not been made for the month, would net income be overstated or understated? plete this question by entering your answers in the tabs below Reg 2 BalReq 3 Gen Reg 3 Ledgers Analyze Req 2 Inc Req 2 Stmt ofR Req 1 Stmt ?? Sheet Complete the worksheet for the month JUDGE CREATIVE DESIGNS Worksheet Month Ended January 31, 2019 Adjusted Trial Balance Credit Income State Debit Trial Balance Debit Credit 34,500 11,600 $

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JUDGE CREATIVE DESIGNS Worksheet Month ending January 31, 2019 Account Trial Balance Adjustments Adjusted Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 34500 34500 34500 Accounts Receivable 11600 11600 11600 Supplies 5750 5150 600 600 Prepaid Advertising 4400 1100 3300 3300 Prepaid Rnt 13200 1100 12100 12100 Equipment 45600 45600 45600 Accumulated Depreciation - Equipment 380 380 380 Accounts Payable 14550 14550 14550 Paula Judge, Capital 59000 59000 92770 Paula Judge, Drawings 6000 6000 Fees Income 57100 57100 57100 Advertising Expense 1100 1100 1100 Depreciation Expense - Equipment 380 380 380 Rent Expense 1100 1100 1100 Salaries Expense 8700 8700 8700 Supplies Expense 5150 5150 5150 Utilities Expense 900 900 900 Total 130650 130650 7730 7730 131030 131030 17330 57100 107700 107700 Income Summary 39770 Grand Total 130650 130650 7730 7730 131030 131030 57100 57100 107700 107700

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