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2. Use the following adjustment information to complete the Adjustments columns of the work sheet. a. Depreciation on equipment, $7 b. Accrued salaries, $10 c.

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2. Use the following adjustment information to complete the Adjustments columns of the work sheet. a. Depreciation on equipment, $7 b. Accrued salaries, $10 c. The $16 of unearned revenue has been earned d. Supplies available at December 31, $35 e. Expired insurance, $19 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 Halance Adjustments Adjusted Trial Balance Income Statement Account Title De Dr. Cr. $ $ 41 un 41 24 48 26 24 35 13 191 47 47 $ 23 $ Cash Accounts receivable Supplies Prepaid Insurance Equipment Accum depreciation Equip Accounts payable Salaries payable Unearned revenue W. Westcott Capital W. Westcott Withdrawals Revenue Depreciation expense-Equip 30 10 10 10 10 16 16 $ 74 74 14 115 16 131 131 5 19 26 47 47 $ 23 $ 10 30 10 101 10 16 16 S 74 74 14 14 Prepaid insurance Equipment Accum depreciation Equip. Accounts payable Salaries payable Unearned revenue w Westcott, Capital W. Westcott, Withdrawals Revenue Depreciation expense-Equip Salaries expense Insurance expense Supplies expense Utilities expense Totals Net income Totals 115 16 131 $ 7 $ 7 22 7 32 191 10 19 32 19 16 16 238 $ $ 16 74 238 S 525 65 $ 242 $ 255 74 $

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