Question

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.) ( REALLY NEED HELP FILLING THIS OUT) thanks!
  
Use the following adjustment information to complete the work sheet.

1. Depreciation on equipment, $22
2. Accrued salaries, $14
3. The $25 of unearned revenue has been earned
4. Supplies available at December 31, 2017, $17
5. Expired insurance, $13

  

WESTCOTT COMPANY Partial Work Sheet For the year ended December 31, 2017 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash $21 Accounts receivable 35 Supplies 44 Prepaid insurance 28 Equipment 42 Accumulated depreciation—Equip. $22 22 Accounts payable 23 Salaries payable 14 Unearned revenue 25 $25 Common stock 12 Retained earnings 47 Dividends 19 Revenue 116 25 Depreciation expense—Equip. 22 Salaries expense 31 14 Insurance expense Supplies expense 17 Utilities expense 25 Totals $245 $245 $78 $61 $0 $0

Answer 1

WESTCOTT COMPANY
Partial Work Sheet
For the year ended December 31, 2017
	Unadjusted Trial Balance		Adjustments		Adjusted Trial Balance
Account Title	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.
Cash	$   21.00				$   21.00
Accounts receivable	$   35.00				$   35.00
Supplies	$   44.00			$   17.00	$   27.00
Prepaid insurance	$   28.00			$   13.00	$   15.00
Equipment	$   42.00				$   42.00
Accumulated depreciation—Equip.		$   22.00		$   22.00		$   44.00
Accounts payable		$   23.00				$   23.00
Salaries payable				$   14.00		$   14.00
Unearned revenue		$   25.00	$   25.00			$        -
Common stock		$   12.00				$   12.00
Retained earnings		$   47.00				$   47.00
Dividends	$   19.00				$   19.00
Revenue		$ 116.00		$   25.00		$ 141.00
Depreciation expense—Equip.			$   22.00		$   22.00
Salaries expense	$   31.00		$   14.00		$   45.00
Insurance expense			$   13.00		$   13.00
Supplies expense			$   17.00		$   17.00
Utilities expense	$   25.00				$   25.00
Totals	$ 245.00	$ 245.00	$   91.00	$   91.00	$ 281.00	$ 281.00