Completing the worksheet.The trial balance of Nixon Company as of January 31, 2016, after...

Completing the worksheet.

The trial balance of Nixon Company as of January 31, 2016, after the company completed the first month of operations, is shown in the partial worksheet below.

INSTRUCTIONS

1. Record the trial balance in the Trial Balance section of the worksheet.

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2. Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $4,200; expired insurance, $5,500; depreciation expense for the period, $1,600.

Analyze: How does the insurance adjustment affect Prepaid Insurance?