Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. Use the following adjustment Information to complete the Adjustments columns of the work sheet a Depreciation on equipment, $11 b. Accrued salarles. $14 c.

image text in transcribed
image text in transcribed
2. Use the following adjustment Information to complete the Adjustments columns of the work sheet a Depreciation on equipment, $11 b. Accrued salarles. $14 c. The $20 of unearned revenue has been eamed d. Supplies available at December 31, $55 e Expired Insurance. $23 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 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 De CF CE De CF 3 81 30 72 34 55 $ Ees 31 14 Account Title Cash Accounts receivable Supplies Prepaid insurance Equipment Accur depreciation Equip Accounts payable Salaries payable neathed revenue W Westcott Capital w Westcott Withdrawal Revenue Depreciation expenseEquip Salates pense Thurance expense Supplies sense U cene Tota at income Tots 20 108 22 156 20 3 20 32053205

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Comprehensive Assurance & Systems Tool

Authors: Laura R. Ingraham, Greg Jenkins

4th Edition

0134790472, 9780134790473

More Books

Students also viewed these Accounting questions