Steps in preparation of the worksheet Work Sheet For Year ended Dec 31 2004 Unadjusted Trial Adjusted Trial Income Statement Balance sheet and Account Adjustments Balance Balance State ment of owners Cr Cr Cr Short-term investme nt 100000 100000 Accounts receivable 36000 6000 Inte rest receivable 2916.6 2916.67 Pre paid Expense 20000 10001000 Inventory 20000 Plant and equipme mt 250000 Accumulated De precoat Step3: 2600 Accounts Payabl Entry the 50000 Wages payable adjusted 35000 35000 Une armed Revenue 25000.00 Paid capital trial balance 500000 Sales revenue 25000 2916.67 2916.67 Cost of sales 30000 30000 Operating expenses 9000 47600.00 56600.00 6360001636000175516.67755667]676516.67676516.67 Task Team of FUndaMientalactoUntING Business Sehool. Sun Yatsen niversity 99 Steps in preparation of the worksheet Account Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr Cash 171000 171000 Short-term investment 100000 100000 Accounts Receivable 36000 36000 Interest receivable 2916.67 2916.67 Prepaid Expense 20000 10000 10000 Inventory 20000 20000 Plant and Equipmemt 250000 250000 Accumulated Depreciation 2600 2600 Accounts Payable 50000 50000 Wages payable 35000 35000 Unearned Revenue 50000 25000.00 25000.00 Paid Capital 500000 500000 Sales Revenue 36000 25000 61000 Interest Revenue 2916.67 2916.67 Cost of Sales 30000 30000 Operating expenses 9000 47600.00 56600.00 total 636000 636000 75516.67 75516.67 676516.67 676516.67 Smith Inc. Work Sheet For Year ended Dec.31 2004 Balance Sheet and Statement of Owner's Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Step3: Entry the adjusted trial balance