Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2. Use the following adjustment information to complete the Adjustments columns of the work sheet. a. Depreciation on equipment, $17 b. Accrued salaries, $20 c.
2. Use the following adjustment information to complete the Adjustments columns of the work sheet. a. Depreciation on equipment, $17 b. Accrued salaries, $20 c. The $26 of unearned revenue has been earned d. Supplies available at December 31, $85 e. Expired insurance, $29 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. Unadjusted Trial Trial Balance Inco Adjustments Dr. cr. Adjusted Trial Balance Dr. Dr. Cr.. - $ 91 108 46 $ Account Title Cash Accounts receivable Supplies Prepaid insurance Equipment Accum. depreciation Equip. Accounts payable Salaries payable Unearned revenue Common stock Retained earings Dividends Revenue Depreciation expense-Equip. 43 20 267 94 60 Check my work Common STOCK Retained earings Dividends. Revenue Depreciation expense-Equip. Salaries expense Insurance expense Supplies expense Utilities expense Totals Net income Totals $ 458 $ 458 S 0 S 0 $ 0 $ 0
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started