The unadjusted trial balance of Jackson's Web Services at December 31, 2014 follows below.
Additional data regarding the accounts:
1. Actual supplies on hand are $750.
2. Depreciation expense for 2014 has not yet been recorded, but has been calculated as $1,600.
3. Amounts recorded as Unearned Revenue are for services that were provided in December. No additional work needs to be done for these customers.
4. Salaries expense of $1,000 for the last week of December has not been paid yet, and should be recorded as an Account Payable.
Instructions
a. Complete the worksheet for the month of December, 2014.
b. Calculate Profit for the year.
c. Calculate the balance in E. Jackson, Capital at December 31, 2014 after closing entries are made.
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