Question

Exercise 4-4 Completing a work sheet LO P1

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, $25

b. Accrued salaries, $7

c. The $27 of unearned revenue has been earned

d. Supplies available at December 31,2017, $25

e. Expired insurance, $13

Answer 1

WESTCOTT COMPANY Partial Work Sheet For the vear ended December 31,2017 Unadjusted Trial Balance Adjustements Dr Cr Dr Cr Adjusted Trial Balance Dr Cr Account Titiles Cash $ $ 16 13 $ $ $ $ 25 15 11 40 11 $ 27 Accounts receivables Supplies Prepaid Insurance Equipment Accumulated depreciation - Equipment Accounts Payable Salaries Payable Unearned Reavenue W.Westcott, Capital W.Westcott, Withdrawals Revenue Depreciation Expense - Equipment Salaries Expense Insurance Expense Supplies Expense Utilities Expense Totals 27$ 46 46 $ $ S 159 $ 27 s 186 S 32 $ $ $ $ 25 7 13 16 16 $ 258 258S 88 88 S 27 290 S 290