1. Use the following information to complete the Adjustments and Adjusted Trial Balance columns of the work sheet.

1. Depreciation on equipment, $14
2. Accrued salaries, $17
3. The $23 of unearned revenue has been earned
4. Supplies available at December 31, $70
5. Expired insurance, $26

2. Extend the balances in the Adjusted Trial Balance columns of the work sheet to the proper financial statement columns. Compute totals for those columns, including net income.

WESTCOTT COMPANY
Work Sheet
For Year Ended December 31
Account Title	Unadjusted Trial Balance		Adjustments		Adjusted Trial Balance		Income Statement		Balance Sheet & Statement of Owners Equity
	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
Cash	$76
Accounts receivable	45
Supplies	90
Prepaid insurance	40
Equipment	61
Accumulated depreciationEquipment		$37
Accounts payable		17
Salaries payable
Unearned revenue		23
W. Westcott, Capital		130
W. Westcott, Withdrawals	28
Services revenue		185
Depreciation expenseEquipment
Salaries expense	29
Insurance expense
Supplies expense
Utilities expense	23
Totals	$392	$392
Net Income
Totals