Use the following adjustment information to complete the Adjustments columns of the work sheet.

1. Depreciation on equipment, $22
2. Accrued salaries, $25
3. The $31 of unearned revenue has been earned
4. Supplies available at December 31, $110
5. Expired insurance, $34

Extend the balances in the Adjusted Trial Balance columns of the work sheet to the proper financial statement columns. Compute totals for those columns including net income.

Exercise 3-22B (Algo) Preparing unadjusted and adjusted trial balances, including the adjustments LO P8 2. Use the following adjustment information to complete the Adjustments columns of the work sheet. a. Depreciation on equipment, $22 b. Accrued salaries, $25 c. The $31 of unearned revenue has been earned d. Supplies available at December 31, $110 e. Expired insurance, $34 3. Extend the balances in the Adjusted Trial Balance columns of the work sheet to the proper financial statement columns. Compute totals for those columns including net income. WESTCOTT COMPANY Partial Work Sheet For the year ended December 31 Adjustments Adjusted Trial Balance Unadjusted Trial Balance Income Statement Balance Sheet and Statement of Retained Earnings Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. $ $ 116 $ 116 69 116 69 69 138 $ 110 110 28 22 56 34 34 77 77 77 Account Title Cash Accounts receivable Supplies Prepaid insurance Equipment Accum. depreciation Equip. Accounts payable Salaries payable Unearned revenue Common stock Retained earnings Dividends $ 53 22 $ $ 75 25 75 25 25 25 25 25 S 31 0 0 31 106 70 106 106 70 26 265 Services revenue Depreciation expense-Equip. Salaries expense 37 Insurance expense Supplies expense Utilities expense Totals 31 550 $ $ 550 $ 31 $ 97 $ 406 $ 301 0 0 406 231 Net income Totals $ 0 $ 0 $ 406 $ 231