The trial balance for Mason€™s Insurance Agency as of August 31, after the firm has completed its first month of operations, is shown below.

Required
1. Record amounts in the Trial Balance columns of the work sheet.
2. Complete the work sheet by making the following adjustments and lettering each adjustment:
a. Expired or used- up insurance, $ 260.
b. Depreciation expense on office equipment, $ 900.
c. Supplies used, $200.

Transcribed Image Text:

Mason's Insurance Company Trial Balance August 31, 20 Debit 3.527 1.219 492 1.362 3,839 Credit Account Name Cash Accounts Receivable Supplies Prepaid Insurance Office Equipment Accounts Payable C. Mason, Capital C. Mason, Drawing Commissions Eamed Rent Expense Travel Expense Utlities Expense Miscellaneous Expense 2,071 9,020 1,900 3,520 1,895 225 198 54 14.611 14,611