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5.1A The trial balance of Escobedo Company as of January 31, 20xt, after the company completed the first month of operations, is shown in the
5.1A
The trial balance of Escobedo Company as of January 31, 20xt, after the company completed the first month of operations, is shown in the partial worksheet below. Aequired: Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $6.200; expired insurance, $6,500; depreciation expense on equipment for the period, $2.600. Analyze: How does the insurance adjustment affect Prepaid insurance? Complete this question by entering your answers in the tabs below. SCOBEOO COMPANY Worksheot (Partiaf) Month Endod January 31, 20Xt Account Name Trial Balance Debis 5105.000 Accounts receivable Sugplies Prepaid insurance Equipment: Accumulased depreosion-Equipment Accounis parable Rosa Escobedo, Capital Rosa Escobedo, Draning Fees income Bupples experise Insurance oxperste Salaries expense Depreciation expotase-Equiprtant Utiaties expense Sub-totals Adjustments Debit Credit Adjusted Trial Balance Debit Credit Income Statement Dabit Balance sheet Debit Creda 21,800 39,400 66,000 109.000 25,000 253,000 15,400 114,200 32.200 4200 Credit Toesls: 2 Anatyos ? The trial balance of Escobedo Company as of January 31, 20xt, after the company completed the first month of operations, is shown in the partial worksheet below. Aequired: Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $6.200; expired insurance, $6,500; depreciation expense on equipment for the period, $2.600. Analyze: How does the insurance adjustment affect Prepaid insurance? Complete this question by entering your answers in the tabs below. SCOBEOO COMPANY Worksheot (Partiaf) Month Endod January 31, 20Xt Account Name Trial Balance Debis 5105.000 Accounts receivable Sugplies Prepaid insurance Equipment: Accumulased depreosion-Equipment Accounis parable Rosa Escobedo, Capital Rosa Escobedo, Draning Fees income Bupples experise Insurance oxperste Salaries expense Depreciation expotase-Equiprtant Utiaties expense Sub-totals Adjustments Debit Credit Adjusted Trial Balance Debit Credit Income Statement Dabit Balance sheet Debit Creda 21,800 39,400 66,000 109.000 25,000 253,000 15,400 114,200 32.200 4200 Credit Toesls: 2 Anatyos Step by Step Solution
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