The trial balance of Neal Company as of January 31, 2019, after the company completed the first month of operations, is shown in the partial worksheet below. Required:

2. Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $2,100; expired insurance, $2,750; depreciation expense for the period, $800.

Analyze: How does the insurance adjustment affect Prepaid Insurance?

NEAL COMPANY
Worksheet (Partial)
Month Ended January 31, 2019
Account Name	Trial Balance		Adjustments		Adjusted Trial Balance		Income Statement		Balance Sheet
	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
Cash	$52,500
Accounts Receivable	10,900
Supplies	19,700
Prepaid Insurance	33,000
Equipment	54,500
Accumulated DepreciationEquipment
Accounts Payable		12,900
Alexander Neal, Capital		126,500
Alexander Neal, Drawing	7,700
Fees Income		57,100
Supplies Expense
Insurance Expense
Salaries Expense	16,100
Depreciation ExpenseEquipment
Utilities Expense	2,100
SubTotals	$196,500	$196,500	$0	$0	$0	$0	$0	$0	$0	$0
Totals							$0	$0	$0	$0