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Exercise 3-23 Wildhorse Co. prepares monthly financial statements from a worksheet. Selected portions of the January worksheet showed the following data. WILDHORSE CO. Worksheet (PARTIAL)
Exercise 3-23 Wildhorse Co. prepares monthly financial statements from a worksheet. Selected portions of the January worksheet showed the following data. WILDHORSE CO. Worksheet (PARTIAL) For The Month Ended January 31, 2020 Trial Balance Adjustments Accounts Title Debit Credit Debit Credit Supplies 3,580 1,420 Accumulated Depreciation Equipment 7,197 267 Interest Payable 98 48 Supplies Expense 1,420 Depreciation Expense 267 Interest Expense 48 Adjusted Trial Balance Debit Credit 2,160 7,464 146 1,420 267 48 During February, no events occurred that affected these accounts. But at the end of February, the following information was available. (a) (b) (c) Supplies on hand Monthly depreciation Accrued interest $711 $267 $48 Reproduce the data that would appear in the February worksheet. WILDHORSE CO. Worksheet (Partial) For Month Ended February 28, 2020 Adjusted Trial Balance Dr Trial Balance Adjustments Income Statement Balance Sheet Dr. Cr. Dr. Cr Cr Dr. Cr. Dr. Cr Accounts Titles Supplies Accumulated Depreciation Equipment Interest Payable Supplies Expense Depreciation Expense Interest Expense Indicate the amounts that would be shown in the February income statement. Amount shown in Income Statement (a) Supplies expense (b) Depreciation expense (c) Interest expense LINK TO TEXT
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