Rainmaker Environmental Consultants is just finishing its second year of operations. The
company's unadjusted trial balance at October 31,2023 , follows:Rainmaker prepares adjustments
each October 31. The following additional information is available on October 31,2023. a. It was
determined that $11,200 of the unearned consulting revenue had not yet been earned. b. It was
discovered that $13,200 of the balance in the Consulting Revenue account was for services to
berformed in November. c. The balance in the Prepaid Rent account represents three months of
rent beginning September 1, 2023. d. Accrued wages at October 31 totalled $6,000. e. The office
furniture was purchased on March 1, 2022, and has an estimated useful life of two years. After two
years of use, it is expected that the furniture will be worthless. f. Accrued consulting revenue at
year-end totalled $3,400. g. Interest of $77 had accrued on the note receivable for the month of
October. h. The balance in the Prepaid Insurance account represents the remaining balance of a
two-year policy purchased on April 1, 2022. i. A count of the supplies on October 31 revealed a
balance remaining of $540. Required: 1. Set up balance column accounts for Rainmaker
Environmental Consultants and enter the balances listed in the unadjusted trial balance. (Enter the
adjusting values in the order of Transaction i.e., a through i.)2. Complete the following T-Account
with the adjusting entries for October 31, 2023.161: Office Furniture begin{tabular}{|l|l|l|} hline Adj
Bal Oct 31 & 0 & hline & & hline hline end{tabular} begin{tabular}{|l|r|l|} hline Adj Bal Oct 31 & 0 &
hline & & hline & & hline & & hline end{tabular} 233: Unearned Consulting
Revenuebegin{tabular}{|l|l|l|} hline & & hline & & hline & & hline Adj Bal Oct 31 & & hline & & hline
& & hline end{tabular} begin{tabular}{|l|l|l|} hline & & multicolumn{1}{|c|}{} hline & & hline & & hline
Adj Bal Oct 31 & 0 & hline & & hline & & hline & & hline & & hline & & hline & & hline & & hline
end{tabular}4-a. Use the adjusted trial balance to prepare an income statement.4-b. Use the
adjusted trial balance to prepare a statement of changes in equity. Assume that the owner, Jeff
Moore, made no owner nvestments during the year. 4-c. Use the adjusted trial balance to prepare
a balance sheet. Assume that the owner, Jeff Moore, made no owner investments dur ihe year.
(Be sure to list the assets and liabilities in order of their liquidity.)RAINMAKER ENVIRONMENTAL
CONSULTANTS.
