Problem 5.1A (Algo) Completing the worksheet. LO 5-2,5-3 The trial balance of Ortiz Company as of January 31, 20X1, after the company completed the first month of operations, is shown in the partial worksheet below. Required: Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $5,800; expired insurance, $6,300; depreciation expense on equipment for the period, $2,400. Analyze: How does the insurance adjustment affect Prepaid Insurance? Complete this question by entering your answers in the tabs below. Partial Worksheet Analyze Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $5,800; expired insurance, $6,300; depreciation expense on equipment for ORTIZ COMPANY Worksheet (Partial) Month Ended January 31, 20X1 Adjustments Adjusted Trial Balance Debit Credit Debit Credit Trial Balance Income Statement Balance S Account Name Debit Credit Debit Credit Debit Cash $ 104,800 21,600 39,200 64,800 108.800 Accounts receivable Supplies Prepaid insurance Equipment Accumulated depreciation-Equipment Accounts payable Frank Ortiz, Capital Frank Ortiz, Drawing Fees income Supplies expense 25,600 252,800 15,200 112,000 nsurance expense Salaries expense 32,000 Depreciation expense-Equipment Utilities expense 4,000 390,400 $ Sub-totals $ 390,400 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Totals $ 0 $ 0 $ 0 Partial Worksheet Analyze How does the insurance adjustment affect Prepaid Insurance? Insurance adjustment the Prepaid Insurance account balance.