Brief Exercise 4-2

The ledger of Lentz Company includes the following unadjusted balances: Prepaid Insurance $3,000, Service Revenue $58,000, and Salaries and Wages Expense $25,000. Adjusting entries are required for (a) expired insurance $1,800; (b) services performed $1,100, but unbilled and uncollected; and (c) accrued salaries payable $800.

Enter the unadjusted balances and adjustments into a worksheet and complete the worksheet for all accounts.

LENTZ COMPANY

Worksheet

Brief Exercise 4-2 The ledger of Lent: Company includes the following unadjusted balances: Prepaid Insurance $3,000, Service Revenue $58,000, and Salaries and Wages Expense $25,000. Adjusting entries are required for (a) expired insurance $1,800; {b} services performed $1,100, but unbilled and uncollected; and {c) accrued salaries pavable $300. Enter the unadjusted balances and adjustments into a worksheet and complete the worksheet for all accounts. LEN 12 CO H PANY We rksheel: Trial Balance Adjustment! Adjusted Trial Balance Income Statement Balance Sheet Account Title: Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Prepaid Insurance 3000 Service Revenue 53000 Salaries and Wages Expense 2500:] Accounts Receivable Salaries and Wages Payable Insurance Expense