Exercise 1

Exercise 1

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Preparing a Worksheet

The unadjusted trial balance of Voice Link at November 30, 2016, follows:

Additional information at November 30, 2016:

1. Accrued service revenue, $600.
2. Depreciation, $300.
3. Accrued salaries expense, $600.
4. Prepaid rent expired, $900.
5. Office Supplies used, $500.

Instructions

1. Complete Voice Link’s worksheet for the month ended November 30, 2016.
2. How much was net income for November?

Exercise #2

Preparing a worksheet, closing entries, and a post-closing trial balance

San Antonio Veterinary Hospital completed the following worksheet as of December 31, 2016: