Heritage Company offers legal consulting advice to death

row inm
Heritage Company offers legal consulting advice to death-row inmates. Heritage Company
prepared the following trial balance at April 30, 2006, the end of the current fiscal year:The data
needed to determine year-end adjustments are as follows:a. Accrued fees revenue at April 30
are $2,800.b. Insurance expired during the year is $450.c. Supplies on hand at April 30 are
$650.d. Depreciation of building for the year is $1,620.e. Depreciation of equipment for the year
is $3,500.f. Accrued salaries and wages at April 30 are $1,800.g. Unearned rent at April 30 is
$1,500.Instructions1. Prepare the adjusting entries.2. Based upon (1), prepare an adjusted trial
balance.3. Prepare an income statement for the year ended April 30, 2006.4. Prepare a
retained earnings statement for the year ended April 30, 2006.5. Prepare a classified balance
sheet as of April 30, 2006.6. Prepare the closing entries.7. Prepare a post-closing trialbalance.
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Heritage Company offers legal consulting advice to death row inm
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