Flint Inc operates a cable television system At December

31
Flint Inc operates a cable television system At December 31

Flint Inc. operates a cable television system. At December 31, 2019, the following unadjusted
account balances were available:

The following data are available for adjusting entries:

a. At year end, $1,500 of office supplies remain unused.

b. Annual depreciation on the building is $20,000.

c. Annual depreciation on the equipment is $150,000.

d. The interest rate on the note is 8%. Four months' interest is unpaid and unrecorded at
December 31, 2019.

e. At December 31, 2019, services of $94,000 have been performed but are unbilled and
unrecorded.

f. Utility bills of $2,800 are unpaid and unrecorded at December 31, 2019.

g. Income taxes of $49,633 were unpaid and unrecorded at year end.

Required:

1. Prepare a worksheet for Flint.

2. Prepare an income statement, a retained earnings statement, and a classified balance sheet
for Flint.

3. Prepare the closing entries.

Flint Inc operates a cable television system At December 31

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at-december-31/

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