P3-6A Givens Graphics Company, Inc. was organized on January 1, 2008, by Sue Givens. At the end of the first 6 months of operations, the trial balance contained the following accounts.

Price: $3.99


P3-6A Givens Graphics Company, Inc. was organized on January 1, 2008, by Sue Givens. At the end of the first 6 months of operations, the trial balance contained the following accounts.

Analysis reveals the following additional data.

1. The $3,700 balance in Supplies Expense represents supplies purchased in January.At June 30, $1,300 of supplies was on hand.

2. The note payable was issued on February 1. It is a 9%, 6-month note.

3. The balance in Insurance Expense is the premium on a one-year policy, dated March 1,2008.

4. Consulting fees are credited to revenue when received. At June 30, consulting fees of $1,500 are unearned.

5. Graphic revenue earned but unrecorded at June 30 totals $2,000.

6. Depreciation is $2,000 per year.


Instructions
(a) Journalize the adjusting entries at June 30. (Assume adjustments are recorded every 6 months.)
(b) Prepare an adjusted trial balance.
(c) Prepare an income statement and a retained earnings statement for the 6 months ended June 30 and a balance sheet at June 30.