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Question(s) / Instruction(s):

A six-column table for KLJ Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2009. The last two columns contain the adjusted trial balance as of the same date.

Unadjusted Trial Balance             Adjustments      Adjusted Trial Balance




Requirement 1:

Analyze the differences between the unadjusted and adjusted trial balances to determine the eight adjustments that likely were made. Show the results of your analysis by inserting these adjustment amounts in the table’s two middle columns.

Requirement 2:

Prepare KLJ Company’s income statement and for the year ended July 31, 2009.

Requirement 3:

Prepare KLJ Company’s statement of owner’s equity for the year ended July 31, 2009. Note: K. Jenkins, Capital at July 31, 2008, was $46,000, and the current-year withdrawals were $10,000.

Requirement 4:

Prepare KLJ Company’s balance sheet as of July 31, 2009.

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