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2. Use the following adjustment information to complete the Adjustments columns of the work sheet. a. Depreciation on equipment, $16 b. Accrued salaries. $19 c.
2. Use the following adjustment information to complete the Adjustments columns of the work sheet. a. Depreciation on equipment, $16 b. Accrued salaries. $19 c. The $25 of unearned revenue has been earned d. Supplies available at December 31. $80 e. Expired insurance, $28 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 Adjusted Adjustments Trial Balance Unadjusted Trial Balance Income Statement Balance Sheet Dr. Cr. Dr. Cr. Dr. Cr. Account Title Cash Accounts receivable $ 86 51 102 44 65 $ 41 19 Supplies Prepaid insurance Equipment Accum. depreciation-Equip. Accounts payable Salaries payable Unearned revenue W. Westcott, Capital W. Westcott, Withdrawals Revenue Depreciation expense-Equip. Salaries expense 25 146 32 205 31 Insurance expense Supplies expense Utilities expense 25 436 Totals $ S 438 Net income Totals
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