I really need help with this question I have tried it and for nothing I am getting the trial balance to balance and preparing the financial statements are difficult. Please Help.
Rampersad Company
Trial Balance
March 31, 2001
Debit Credit
Cash $8,400
Accounts Receivable 70,400
Office Supplies 1,000
Vehicles 92,000
Accumulated Depreciation: Vehicles 18,400
Accounts Payable 22,000
Unearned Service Revenue 24,000
Bank Loan Payable 70,800
S. Rampersad, Capital 28,600
S. Rampersad, Drawing 8,000
Service Revenue 46,000
Rent Expense 10,000
Wage Expense 16,000
Telecommunication Expense 4,000
Equals----- $209,800 $209,800
The additional information below has come to your attention:
1. Services provided but not yet billed, $9,400.
2. Office supplies on hand as at March 31, $200.
3. Depreciation Expense on the vehicles, $9,200.
4. Remaining unearned service revenue as at March 31, $6,000.
5. Accrued interest on the bank loan payable $600.
6. Wages accrued, $1,500.
Required
a. Prepare Rampersad’s adjusting entries in General Journal form.
b. Prepare an adjusted trial balance.
c. Prepare financial statements for the period ending 31 March, 2001.
