Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Record the adjustments in the adjustments columns on the worksheet; then complete the worksheet. Record the adjustments in the formatted journal entries at the bottom

Record the adjustments in the adjustments columns on the worksheet; then complete the worksheet. Record the adjustments in the formatted journal entries at the bottom of the worksheet. Record the closing entries in the formatted journal entries below the adjusting entries on the worksheet.

image text in transcribed

March Company Worksheet For the month ended December 31, 2019 Adjustments Adjusted Trial Balance Income Statement Debit Credit Debit Credit Debit Credit Balance Sheet Debit Credit Tnal Balance Debit Credit 2.420 400 370 720 2,000 810 2.760 250 Cash Accounts Receivable Supplies Prepaid Insurance Office Equipment Accum Depr-Office Equip Accounts Payable A March, Capital A March, Drawing Fees Earned Wages Expense Rent Expense Utilities Expense Supplies Expense Insurance Expense Depreciation Expense-Once Equip Totals Net income or loss Totals 3,3001 220 250 2401 6,8701 6,870 Adjusting Entries: A Prepaid Insurance which has expired $120. B. Ending Supplies Inventory is $40. C. Fees earned but not yet received is $255. D. Depreciation on the Office Equipment for this year, $50 (c) Joumalize the adjusting entries using the worksheet as a basis. A B. C D (d) Journalize the closing entries using the worksheet as a basis. A B

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Dynamical Corporate Finance

Authors: Umberto Sagliaschi, Roberto Savona

1st Edition

3030778525, 9783030778521

More Books

Students also viewed these Accounting questions