Question

On January 31, 2019, the general ledger of palmer Company showed the following account balances.
Accounts
cash.                                             61,400
accounta Receivable.                  20,900
supplies.                                          7,400
prepaid insurance.                          6,600
Equipment.                                    89,900
accumulated. Depr.- Equip.                   0
accounts payable.                         15,100
sadie palmer, capital.                     80,350
fees income.                                   109,000 Depreciation Exp.-Equip.                          0
Insurance Expense.                                   0
Rent Expense.                                     9,000
salaries Expense.                               9,250
supplies expense.                                       0

a. spuulies used during January totaled $4,900.
b. Expired insurance totaled $1,650.
c. Depreciation expense for the month was $1,425
Complete the worksheet through the adjusted Trial Balance section. Assume that every account has the normal debit or credit balance. The worksheet covers the month of January      

Answer 1

Answer: Worksheet Unadjusted Trial Balance Adjustments Adjusted Trial Balance Debit Credit Debit Credit Debit Credit Account Titles Cash 61,400 61,400 Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depr. Equip. Accounts Payable Sadie Palmer, Capital 20,900 20,900 7,400 4,900 2,500 6,600 1,650 4,950 89,900 89,900 1,425 1,425 15,100 15,100 80,350 80,350 Fees Income Depreciation Exp. - Equip. Insurance Expense Rent Expense Salaries Expense Supplies Expense Total 109,000 109,000 1,425 1,425 1,650 1,650 9,000 9,000 9,250 9,250 4,900 4,900 7,975 204,450 204,450 7,975 205,875 205,875