ew History Bookmarks Window Help Help 12 The following data

ew History Bookmarks Window Help Help 1.&2. The following data are taken from the unadjusted trial balance of the Westcott Company at December 31, 2017 Complete the work sheet following adjustment. (Enter their balances in the correct Debit or Credit column) Use the following adjustment information to complete the work sheet a. Depreciation on equipment, $24 b. Accrued salaries, $11 c. The $31 of unearned revenue has been earned d. Supplies available at December 31, 2017, $16 e. Expired insurance, $13 Partial Work Sheet For the year ended December 31, 2017 Adjusted Unadjusted Trial Adjustmems Salaries payable Prev1of Next 8 3 4 5 6 8

Solution

WESTCOTT COMPANY Partial Work Sheet For the Year Ended Dec 31, 2017 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Dr. Cr. Dr. Cr. Dr. Cr. Cash                  34.00                 34.00 Accounts Receivable                  27.00                 27.00 Supplies                  43.00               27.00                 16.00 Prepaid Insurance                  34.00               13.00                 21.00 Equipment                  62.00                 62.00 Accumulated Depreciation                16.00               24.00                   40.00 Accounts Payable                   9.00                     9.00 Salaries Payable                       -                 11.00                   11.00 Unearned Revenue                31.00                31.00                          -   W. Westcott, Capital                52.00                   52.00 W. Westcott, Withdrawls                  20.00                 20.00 Revenue              170.00               31.00                201.00 Depreciation Expense - Equipment                24.00                 24.00 Salaries Expenses                  27.00                11.00                 38.00 Insurance Expenses                         -                  13.00                 13.00 Supplies Expenses                         -                  27.00                 27.00 Utilities Expenses                  31.00                 31.00 Total                278.00              278.00              106.00             106.00              313.00                313.00