Everett co was organized on july 1 2014 quarterly financial

Question

Everett Co. was organized on July 1, 2014. Quarterly financial statements are prepared. The unadjusted and adjusted trial balances as of September 30 are shown below. 

EVERETT CO. Trial Balance September 30, 2014
		Unadjusted				Adjusted
		Dr.		Cr.		Dr.		Cr.
Cash		$ 8,620				$ 8,620
Accounts Receivable		10,417				11,553
Supplies		1,496				670
Prepaid Rent		2,236				1,233
Equipment		18,530				18,530
Accumulated Depreciation—Equipment				$    - 0 -				$     748
Notes Payable				9,300				9,300
Accounts Payable				2,492				2,492
Salaries and Wages Payable				- 0 -				728
Interest Payable				- 0 -				93
Unearned Rent Revenue				1,937				1,029
Owner’s Capital				22,200				22,200
Owner’s Drawings		1,573				1,573
Service Revenue				17,427				18,563
Rent Revenue				1,360				2,268
Salaries and Wages Expense		8,500				9,228
Rent Expense		1,866				2,869
Depreciation Expense						748
Supplies Expense						826
Utilities Expense		1,478				1,478
Interest Expense						93
		$ 54,716		$ 54,716		$ 57,421		$ 57,421

Journalize the annual adjusting entries that were made. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Sept. 30
	(To record accrued revenue.)
Sept. 30
	(To record prepaid rent.)
Sept. 30
	(To record supplies used.)
Sept. 30
	(To record depreciation.)
Sept. 30
	(To record interest.)
Sept. 30
	(To record unearned rent revenue.)
Sept. 30
	(To record accrued salaries.)

Prepare an income statement for the 3 months ending September 30, 2014.

EVERETT CO. Income Statement For the Quarter Ended September 30, 2014
DrawingsExpensesInvestmentNet Income / (Loss)Owner’s Capital, January 1Owner’s Capital, September 30RevenuesTotal ExpensesTotal Revenues
		$
Drawings    Expenses    Investment    Net Income / (Loss)    Owner’s Capital, January 1    Owner’s Capital, September 30    Revenues    Total Expenses    Total Revenues
DrawingsExpensesInvestmentNet Income / (Loss)Owner’s Capital, January 1Owner’s Capital, September 30RevenuesTotal ExpensesTotal Revenues
	$
Drawings    Expenses    Investment    Net Income / (Loss)    Owner’s Capital, January 1    Owner’s Capital, September 30    Revenues    Total Expenses    Total Revenues
DrawingsExpensesInvestmentNet Income / (Loss)Owner’s Capital, January 1Owner’s Capital, September 30RevenuesTotal ExpensesTotal Revenues		$

Prepare a statement of owner's equity for the 3 months ending September 30, 2014. (List items that increase owner's equity first.) 

EVERETT CO. Balance Sheet September 30, 2014
Assets
					$
			$
AddLess:
Current Assets    Liabilities    Expenses    Intangible Assets    Long-term Investments    Long-term Liabilities    Property, Plant and Equipment    Revenues    Owner’s Equity    Total Assets    Total Current Assets    Total Current Liabilities    Total Expenses    Total Intangible Assets    Total Liabilities    Total Liabilities and Owner’s Equity    Total Long-term Investments    Total Long-term Liabilities    Total Property, Plant and Equipment    Total Revenues    Total Owner’s Equity					$
Liabilities and Owner’s Equity
Current AssetsLiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentRevenuesOwner’s EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owner’s EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Owner’s Equity
					$
Current Assets    Liabilities    Expenses    Intangible Assets    Long-term Investments    Long-term Liabilities    Property, Plant and Equipment    Revenues    Owner’s Equity    Total Assets    Total Current Assets    Total Current Liabilities    Total Expenses    Total Intangible Assets    Total Liabilities    Total Liabilities and Owner’s Equity    Total Long-term Investments    Total Long-term Liabilities    Total Property, Plant and Equipment    Total Revenues    Total Owner’s Equity
Current AssetsLiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentRevenuesOwner’s EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Owner’s EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal Owner’s Equity
Current Assets    Liabilities    Expenses    Intangible Assets    Long-term Investments    Long-term Liabilities    Property, Plant and Equipment    Revenues    Owner’s Equity    Total Assets    Total Current Assets    Total Current Liabilities    Total Expenses    Total Intangible Assets    Total Liabilities    Total Liabilities and Owner’s Equity    Total Long-term Investments    Total Long-term Liabilities    Total Property, Plant and Equipment    Total Revenues    Total Owner’s Equity					$

Prepare a balance sheet at September 30. (List assets in order of liquidity.)

If the note bears interest at 12%, how many months has it been outstanding? Note has been outstanding for _________     month(s)