Chapter 5 Problems eBook Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 1,700 1,700 1,702 Accounts Receivable 940 940 94 Supplies 540 (a) 170 370 370 Prepaid Insurance 910 (b) 380 550 550 Office Equipment 5,470 (C) 300 5,170 5,170 Accumulated Depreciation Office Equipment Accounts Payable 460 460 460 Wages Payable (d) 100 100 100 7,480 Joyce Lee, Capital Joyce Lee, Drawing 7,480 7,480 1,100 > 1,100 1,100 Professional Fees 5,700 5,700 5,700 Wages Expense 1,400 (d) 100 1,400 1,400 1,550 Advertising Expense 370 370 370 Rent Expense 710 710 710 Supplies Expense (a) 170 170 170 Phone Expense 110 110 110 Utilities Expense 200 200 200 Insurance Expense (b) 380 380 38 Depreciation Expense-Office Equipment (c) 300 300 300 Miscellaneous Expense 190 190 190 13,640 13,640 950 950 13,110 13,740 4,588 5,800 9,436 7,940 Net Income 1,212 1,496 5,800 5,800 9,436 9,436 Joyce Lee's Tax Service Work Sheet For Month Ended March 31, 20-- Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 1,700 Accounts Receivable 940 Supplies 540 Prepaid Insurance 910 Office Equipment 5,470 Accumulated Depreciation-Office Equipment > Accounts Payable 460 Wages Payable Joyce Lee, Capital 7,480 Joyce Lee, Drawing 1,100 Professional Fees 5,700 Wages Expense 1,400 Advertising Expense 370 Rent Expense 710 Supplies Expense Phone Expense 110 Utilities Expense 200 Insurance Expense Depreciation Expense-Office Equipment Phone Expense 110 Utilities Expense 200 Insurance Expense Depreciation Expense-Office Equipment Miscellaneous Expense 190 13,640 13,640 Net Income