Steps in preparation of the worksheet Smith nc. Work Sheet For Year ended dec31 2004 Unadjusted Trial Balance sheet and Adjustments Adjusted Trial Income State me nt Account Balance Balance State ment of owner’s 171000 171000 Short-term investment l00000 Accounts receivable 36000 Interest receivable 2916.67 2916.67 Pre paid Expense 0000 Plant and equipme Step4: ccumulated Depreciation Entry Adjusted Amounts to wages payable Une amed Revenue Income statement Paid Capital Columns Sales revenue 3600 61000 61,000 Interest revenue 2916.67 2916.67 2,917 Cost of sales 30000 perating expenses 56600.00 total 636000063600075516677551667676516.67676516.67 63917 Net Incc (22683) Task Team of FUndaMientalactoUntING Business Sehool. Sun Yatsen niversity 010 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 61,000 Interest Revenue 2916.67 2916.67 2,917 Cost of Sales 30000 30000 30,000 Operating expenses 9000 47600.00 56600.00 56,600 total 636000 636000 75516.67 75516.67 676516.67 676516.67 86,600 63,917 Net Income (22,683) 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 Step4: Entry Adjusted Amounts to Income Statement Columns