F G H K L M N Adjusted Trial Balance From the adjusted trial balance using formulas to calculate the following: Net income Ending Owner's Capital Total Assets In addition, the company had the following year-end adjusting entries. Adjusting Entries Account Debits Credits Depreciation Expense 10,000 Accumulated Depreciation 10,000 Salaries Expense 4,000 Salaries Payable 4,000 Interest Expense 1,000 Interest Payable 1,000 Insurance Expense 20,000 Prepaid Insurance 20,000 Supplies Expense 22,000 Supplies 22,000 Unearned Revenue 15,000 Service Revenue 15,000 A B D 1 Name 2 Adjusted Trial Balance Worksheet 3 Unadjusted 4 Trial Balance Adjustments 5 Accounts 6 Cash $76,000 7 Accounts Receivable 15,000 8 Supplies 27,000 9 Prepaid Insurance 24,000 10 Equipment 95,000 11 Accumulated Depreciation $37,000 12 Accounts Payable 12,000 13 Salaries Payable 0 14 Unearned Revenue 60,000 15 Interest Payable 16 Notes Payable 35,000 17 Owner's Capital, Beginning 45,000 18 Owner's Withdrawals 3,000 19 Service Revenue 227,000 20 Salaries Expense 164,000 21 Depreciation Expense 22 Insurance Expense 0 23 Supplies Expense 24 Utilities Expense 12,000 25 Interest Expense 26 Totals 27 28 HINTS ON EXCEL: 29 1) If you get a series of hashmarks (######) it just means your column 30 width is not wide enough to accommodate the number. Increase 31 column width and/or delete extra decimal places. 32 33 2. To add numbers, put your cursor on the cell where you want the 34 answerto be. Then keystroke the equal or addition sign and then click on the cell you want add, then keystroke the addition sign and click on 35 36 the second cell you want to add. Continue in the same fashion for multiple cells. Use the subtraction signfor subtracting cells. If you Instructions: 1 Label the columns in the worksheet as Debit or Credit 2 Using cell referencing record the adjusting entries in the adjustments column 3 Using formulas calculate the adjusted trial balance Example =B5+D5-E5 If the account is a normal credit balance leave the debit column blank and vice versa Even better use the IF function to easily copy the formulas. Instructions are provided on the IF Function tab 4 Total all six columns. Debits must equal credits. 5 Formatting Change the formatting to commas with no decimal places. In proper accounting form, add $ to the first number in each column, and and a double underline under the totals. 6 In column N use formulas to calculate Net income Ending Owner's Capital
