To fill in the blanks and complete the solution for the task, we will first analyze the given information and identify the adjustments needed to calculate the adjusted trial balance, income statement, and balance sheet. Let's go through each account and the corresponding adjustments step by step.
1. Cash:
- The initial balance for Cash is given as $19,780.
- No adjustments are mentioned for this account, so the Adjustments column will remain empty.
- The adjusted trial balance will be the same as the trial balance: $19,780 debit and $19,780 credit.
2. Accounts Receivable:
- The initial balance for Accounts Receivable is given as $5,500.
- No adjustments are mentioned for this account, so the Adjustments column will remain empty.
- The adjusted trial balance will be the same as the trial balance: $5,500 debit and $5,500 credit.
3. Supplies:
- The initial balance for Supplies is given as $1,500.
- No adjustments are mentioned for this account, so the Adjustments column will remain empty.
- The adjusted trial balance will be the same as the trial balance: $1,500 debit and $1,500 credit.
4. Prepaid Insurance:
- The initial balance for Prepaid Insurance is given as $2,400.
- No adjustments are mentioned for this account, so the Adjustments column will remain empty.
- The adjusted trial balance will be the same as the trial balance: $2,400 debit and $2,400 credit.
5. Equipment:
- The initial balance for Equipment is given as $30,200.
- No adjustments are mentioned for this account, so the Adjustments column will remain empty.
- The adjusted trial balance will be the same as the trial balance: $30,200 debit and $30,200 credit.
6. Accumulated Depreciation - Equipment:
- The initial balance for Accumulated Depreciation - Equipment is not provided.
- The adjustment for this account is mentioned as $5,000 credit.
- The adjusted balance will be $5,000 credit.
Adjusted Trial Balance:
- The Accounts Debit and Credit columns of the Adjusted Trial Balance will be the sum of balances in each account after adjustments.
- For Cash: $19,780 debit and $19,780 credit.
- For Accounts Receivable: $5,500 debit and $5,500 credit.
- For Supplies: $1,500 debit and $1,500 credit.
- For Prepaid Insurance: $2,400 debit and $2,400 credit.
- For Equipment: $30,200 debit and $30,200 credit.
- For Accumulated Depreciation - Equipment: $0 debit and $5,000 credit.
- For Accounts Payable: Fill in the blank 49.
- For Wages Payable: Fill in the blank 57.
- For Litton, Capital: Fill in the blank 65.
- For Litton, Drawing: Fill in the blank 73.
- For Service Fees: Fill in the blank 81.
- For Wages Expense: Fill in the blank 89.
- For Rent Expense: Fill in the blank 97.
- For Supplies Expense: Fill in the blank 105.
- For Utilities Expense: Fill in the blank 113.
- For Insurance Expense: Fill in the blank 121.
- For Depreciation Expense - Equipment: Fill in the blank 129.
- The totals for the Debit and Credit columns in the Adjusted Trial Balance should match.
7. Accounts Payable:
- The initial balance for Accounts Payable is given as $5,520.
- No adjustments are mentioned for this account, so the Adjustments column will remain empty.
- The adjusted trial balance will be the same as the trial balance: $5,520 debit and $5,520 credit.
8. Wages Payable:
- The initial balance for Wages Payable is not provided.
- The adjustment for this account is mentioned as $0.
- The adjusted balance will be $0.
9. Litton, Capital:
- The initial balance for Litton, Capital is given as $44,000.
- No adjustments are mentioned for this account, so the Adjustments column will remain empty.
- The adjusted trial balance will be the same as the trial balance: $44,000 debit and $44,000 credit.
10. Litton, Drawing:
- The initial balance for Litton, Drawing is given as $4,000.
- No adjustments are mentioned for this account, so the Adjustments column will remain empty.
- The adjusted trial balance will be the same as the trial balance: $4,000 debit and $4,000 credit.
11. Service Fees:
- The initial balance for Service Fees is given as $20,000.
- No adjustments are mentioned for this account, so the Adjustments column will remain empty.
- The adjusted trial balance will be the same as the trial balance: $20,000 debit and $20,000 credit.
12. Wages Expense:
- The initial balance for Wages Expense is given as $10,000.
- No adjustments are mentioned for this account, so the Adjustments column will remain empty.
- The adjusted trial balance will be the same as the trial balance: $10,000 debit and $10,000 credit.
13. Rent Expense:
- The initial balance for Rent Expense is given as $900.
- No adjustments are mentioned for this account, so the Adjustments column will remain empty.
- The adjusted trial balance will be the same as the trial balance: $900 debit and $900 credit.
14. Supplies Expense:
- The initial balance for Supplies Expense is not provided.
- The adjustment for this account is mentioned as $0.
- The adjusted balance will be $0.
15. Utilities Expense:
- The initial balance for Utilities Expense is given as $240.
- No adjustments are mentioned for this account, so the Adjustments column will remain empty.
- The adjusted trial balance will be the same as the trial balance: $240 debit and $240 credit.
16. Insurance Expense:
- The initial balance for Insurance Expense is not provided.
- No adjustments are mentioned for this account, so the Adjustments column will remain empty.
- The adjusted trial balance will be the same as the trial balance: $0 debit and $0 credit.
17. Depreciation Expense - Equipment:
- The initial balance for Depreciation Expense - Equipment is not provided.
- No adjustments are mentioned for this account, so the Adjustments column will remain empty.
- The adjusted trial balance will be the same as the trial balance: $0 debit and $0 credit.
Adjusted Trial Balance (Continued):
- For Cash: $19,780 debit and $19,780 credit.
- For Accounts Receivable: $5,500 debit and $5,500 credit.
- For Supplies: $1,500 debit and $1,500 credit.
- For Prepaid Insurance: $2,400 debit and $2,400 credit.
- For Equipment: $30,200 debit and $30,200 credit.
- For Accumulated Depreciation - Equipment: $0 debit and $5,000 credit.
- For Accounts Payable: $5,520 debit and $5,520 credit.
- For Wages Payable: $0 debit and $0 credit.
- For Litton, Capital: $44,000 debit and $44,000 credit.
- For Litton, Drawing: $4,000 debit and $4,000 credit.
- For Service Fees: $20,000 debit and $20,000 credit.
- For Wages Expense: $10,000 debit and $10,000 credit.
- For Rent Expense: $900 debit and $900 credit.
- For Supplies Expense: $0 debit and $0 credit.
- For Utilities Expense: $240 debit and $240 credit.
- For Insurance Expense: $0 debit and $0 credit.
- For Depreciation Expense - Equipment: $0 debit and $0 credit.
- The totals for the Debit and Credit columns in the Adjusted Trial Balance should match.
Now, based on the adjusted trial balance, we can proceed to prepare the Income Statement and Balance Sheet. Since the Income Statement and Balance Sheet formats are not given, it's important to know the common structure for each.
Income Statement:
- The Income Statement shows the revenues and expenses incurred during a specific period.
Balance Sheet:
- The Balance Sheet summarizes the financial position of a company at a specific point in time.
Please provide the required formats for the Income Statement and Balance Sheet or let me know if you would like a general format.
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--- Sum of squares
--- Sum of products
