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2 Exercise 4-4 Preparing unadjusted and adjusted trial balances, including the adjustments LO P1 2. Use the following adjustment information to complete the Adjustments columns
2 Exercise 4-4 Preparing unadjusted and adjusted trial balances, including the adjustments LO P1 2. Use the following adjustment information to complete the Adjustments columns of the work sheet. 20 points Skipped a. Depreciation on equipment, $3 b. Accrued salaries, $6 c. The $12 of unearned revenue has been earned d. Supplies available at December 31, $15 e. Expired insurance, $15 eBook Ask 3. 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 Partial Work Sheet For the year ended December 31 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Title Dr. Cr. Dr. Cr. Dr. Cr. $ 21 Cash Accounts receivable 12 24 18 39 $ 15 6 Supplies Prepaid insurance Equipment Accum. depreciation Equip. Accounts payable Salaries payable Unearned revenue W. Westcott, Capital W. Westcott, Withdrawals Revenue 12 42 6 75 75 18 Revenue Depreciation expense-Equip. Salaries expense Insurance expense Supplies expense Utilities expense Totals 12 $ 150 $ 150 $ 0 $ 0 $ 0 $ 0 0 0 0 Net income Totals $ 0 $ 0 $ 0 $
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