The balances in the ledger of Good Landscape Services as of January 31 before adjustments are as follows: 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 10-column end-of-period spreadsheet for Good Landscape Services for January.
(b)On the basis of the work sheet in
(a), present the following in good order:
(1) income statement,
(2) statement of owner's equity
(assume no additional owner investments were made during the month), and
(3) balance sheet.
(c)On the basis of the work sheet in
(a) journalize the closing entries as of January 31.

Question

The balances in the ledger of Good Landscape Services as of January 31 before adjustments are as follows:​  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 10-column end-of-period spreadsheet for Good Landscape Services for January.
(b)On the basis of the work sheet in 
(a), present the following in good order: 
(1) income statement, 
(2) statement of owner's equity 
(assume no additional owner investments were made during the month), and 
(3) balance sheet.
(c)On the basis of the work sheet in 
(a) journalize the closing entries as of January 31.

Quizplus · Accepted Answer

The Answer of The balances in the ledger of Good Landscape Services as of January 31 before adjustments are as follows:​  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 10-column end-of-period spreadsheet for Good Landscape Services for January.
(b)On the basis of the work sheet in 
(a), present the following in good order: 
(1) income statement, 
(2) statement of owner's equity 
(assume no additional owner investments were made during the month), and 
(3) balance sheet.
(c)On the basis of the work sheet in 
(a) journalize the closing entries as of January 31.

The Balances in the Ledger of Good Landscape Services as of January