Additional Data at December 31, 1993:a) Supplies used during the year $2 580.b) Prepaid rent in force, $1 000c) Unearned sales revenue still not earned, $2 400. The company expects to earn thisamount during the next few months.d) Depreciation. The furniture and fixtures’ estimated useful life is 1 0 years, and they areexpected to be worthless when they are retired from service.e) Accrued salaries, $1 300.f) Accrued interest expense, $600.g) Inventory on hand, $65 800.Required:i) Adjusting journal entriesii) Accounting worksheet.iii) A multi-step income statement, statement of owner’s equity and a balance sheet.iv) Prepare the necessary closing entries.











Worksheet



Unadjusted Trial Balance
Adjustments
Adjusted Trial Balance
Income Statement
Balance Sheet


Account
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit


Cash
5,670



5,670







Accounts Receivable
37 100



37 100







Inventory
60,500

5300

65,800







Supplies
3,930


2580
1,350







Prepaid Rent
6,000


1000
5,000







Furniture and fixtures
26,500



26,500







Accumulated Depreciation

21,200

2120

23,320






Accounts Payable

46,340



46,340






Salary Payable



1300

1300






Interest Payable



600

600






Unearned Sales Revenue

3,500
2400


1,100






Note Payable, Long Term

35,000



35,000






Wen Teng, Capital

23,680



23,680






Wen Teng, Withdrawals
48000



48000







Sales Revenue

346,700

2400

349,100






Sales Discounts
10,300



10,300







Sales Returns and Allowances
8,200



8,200







Cost of Goods Sold
171,770



171,770







Salary Expense
82,750

1300

84,050







Rent Expense
7,000

1000

8,000







Depreciation expense


2120

2,120







Utilities Expense
5,800



5,800







Supplies Expense


2580

2,580







Interest Expense
2,900

600

3,500







Inventory Change



5300

5300

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I did the adjustments and adjusted trial balance but I am not sure if I did it right because it did not balance
Can I get some feedback

I don't understand your last line, that probably belongs in cost of goods sold, unearned sales revenue would be a reduction of sales, depreciation is calaclated on the capital value of the asset not the balance of accumulated depreciation, Put some totals into your spreadsheet and carry the balances into the other sections of the spreadsheet