On January 31, 2013, the general ledger of Herron Company showed the following account balances. Prepare 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.
ACCOUNTS |
|
Cash | 62,000 |
Accounts Receivable | 21,500 |
Supplies | 8,000 |
Prepaid Insurance | 7,200 |
Equipment | 90,500 |
Accum. Depr.—Equip. | 0 |
Accounts Payable | 15,700 |
Alfred Herron, Capital | 80,950 |
Fees Income | 112,000 |
Depreciation Exp.—Equip. | 0 |
Insurance Expense | 0 |
Rent Expense | 9,600 |
Salaries Expense | 9,850 |
Supplies Expense | 0 |
Additional information:
a. Supplies used during January totaled $5,200.
b. Expired insurance totaled $1,800.
c. Depreciation expense for the month was $1,575.
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