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2-11 A partial tabular summary of transactions for Windsor, Inc. on March 31, 2022, includes the following accounts before adjustments. Assets Prepaid Supplies + Insur.
2-11 A partial tabular summary of transactions for Windsor, Inc. on March 31, 2022, includes the following accounts before adjustments. Assets Prepaid Supplies + Insur. + Equip- 3,000 2,880 36,000 Acc. Depr- Equip. Liabilities + Stockholders' Equity Unearned - Serv. Rev + Rev. Exp. -5.760 12,000 An analysis of the accounts shows the following. 2. 1. Insurance expires at the rate of $360 per month. Supplies on hand total $1,080. 3. The equipment depreciates $240 per month 4. During March, services were performed for two-fifths of the unearned service revenue. Prepare a tabular summary to record adjustments for the month of March. Include an explanation for each adjustment. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Acc. Depr. Equip. Supplies Prepaid Insurance Equip. Unadj. Bal. 3,000 2,880 36,000 -5.760 1. 2. Insurance expires at the rate of $360 per month. Supplies on hand total $1,080. The equipment depreciates $240 per month. During March, services were performed for two-fifths of the unearned service revenue. 3. 4 Prepare a tabular summary to record adjustments for the month of March. Include an explanation for each adjustment. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Supplies Equip. Prepaid Insurance 2,880 Acc. Depr. Equip. -5,760 Unadj. Bal. 3,000 36,000 Adj. 1 Adj. 2 Adj. 3 Adj. 4 Adj. Bal
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