Q1. 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:
Accrued fees revenue at April 30 are $2,800.
Insurance expired during the year is $450.
Supplies on hand at April 30 are $650.
Depreciation of building for the year is $1,620.
Depreciation of equipment for the year is $3,500.
Accrued salaries and wages at April 30 are $1,800.
Unearned rent at April 30 is $1,500.
Instructions
Journalize the adjusting entries, adding accounts as needed.
Prepare an adjusted trial balance of April 30, 2006.
Prepare an income statement for the year ended April 30.
Prepare a statement of owner?s equity for the year ended April 30. No additional investments were made during the year.
Prepare a balance sheet as of April 30.
Compute the percent of total revenue to total assets for the year.