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The following is the Trial balance along with adjustment for West Company. Complete the following: 1. Adjusted trial balance, 2. Typical form of income statement,
The following is the Trial balance along with adjustment for West Company.
Complete the following:
1. Adjusted trial balance,
2. Typical form of income statement,
3. Balance sheet,
4. Proper form of Income statement,
5. Statement of owner's equity and
6. Classified Balance sheet.
West Company | ||||
Trial Balance | ||||
Account | Dr. | Cr. | ||
Cash | 2500 | |||
Inventory | 900 | |||
Prepaid Rent | 1200 | |||
Prepaid Insurance | 70 | |||
Office Equipment | 2170 | |||
Accum. Dep - Equip | 580 | |||
Unearned storage fees | 2530 | |||
Accounts Payable | 120 | |||
West Co, Capital | 1950 | |||
Sales | 11210 | |||
Sales Return and allowances | 550 | |||
Sales Discount | 230 | |||
Cost of goods sold | 5000 | |||
Utilities expense | 100 | |||
Plumbing expense | 220 | |||
Salaries expense | 2050 | |||
Insurance expense | 1400 | |||
Adjustments:
A. Ending Inventory $850
B. Storage fees earned$520
C. Rent expired $150
D. Depreciation expense $80
E. Salaries Accrued $220
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