The trial balance of Torres Company as of February 28, 2013, appears below.

INSTRUCTIONS
1. Record the trial balance in the Trial Balance section of the worksheet.
2. Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $1,100; expired rent, $1,000; depreciation expense for the period, $500.
Analyze:
Why do you think the account Accumulated Depreciation-Equipment has a zero balance on the trial balance shown?

Transcribed Image Text:

Torres Company Worksheet (Partial) Month Ended February 28, 2013 TRIAL BALANCE ADJUSTMENTS ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT 1 Cash 2 Accounts Receivable a Supplies 36 500 0o 320000 210 0 00 12 000 00 23 0 0 000 Prepaid Rent Equipment Accumulated Depreciation-Equipment Accounts Payable 8 Poul Torres, Capitol 9 Paut Torres, Drawing 10 Fees Income 610 0 000 49 2 5 0 oo 5 0 000 27 00 000 Depreciation Expense-Equipment 12 Rent Expense 13 Salaries Expense 4 Supplies Expense 15 Utilities Expense 315 000 80 000 822 5 이00 Totals 17 82 25 0 00