Question

The adjusted trial balance columns of the worksheet for Alshwer Company are as follows. ALSHWER COMPANY Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No. Account Titles Dr. Cr. 101 Cash 5,300 112 Accounts Receivable 10,800 126 Supplies 1,500 130 Prepaid Insurance 2,000 157 Equipment 27,000 158 Accumulated Depreciation—Equipment 5,600 200 Notes Payable 15,000 201 Accounts Payable 6,100 212 Salaries and Wages Payable 2,400 230 Interest Payable 600 311 Common Stock 10,000 320 Retained Earnings 3,000 332 Dividends 7,000 400 Service Revenue 61,000 610 Advertising Expense 8,400 631 Supplies Expense 4,000 711 Depreciation Expense 5,600 722 Insurance Expense 3,500 726 Salaries and Wages Expense 28,000 905 Interest Expense 600    Totals 103,700 103,700

(a) Complete the worksheet by extending the balances to the financial statement columns.

Answer 1

*Worksheet:

*A Worksheet is a multiple-column form used in the adjustment process and in preparing financial statements.

*The worksheet is a working tool. It is an optional.

*It is not a permanent accounting record.

*It is neither a journal nor a part of the general ledger.

a. Complete Worksheet Acc.No Account Particulars AA 101 Cash 112 Accounts Receivable 126 Supplies 130 Prepaid Insurance 157 Equipment 158 Accumulated Depreciation 200 Notes Payable 201 Accounts Payable 212 Salaries and Wages Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 610 Advertising Expense 631 Supplies Expense 711 Depreciation Expenses 722 Insurance Expenses 726 Salaries and Wages Expense 905 Interest Expense Total Net Profit Adjusted T/B Income Statement Balance sheet Debit Credit Debit Credit Debit Credit $ 5,300 $ 5,300 $ 10,800 $ 10,800 $ 1,500 $ 1,500 $ 2,000 $ 2,000 $ 27,000 $ 27,000 $ 5,600 $ 5,600 $ 15,000 $ 15,000 $ 6,100 6,100 $ 2,400 2,400 $ 600 $ 600 $ 10,000 $ 10,000 $ 3,000 $ 3,000 $ 7,000 $ 7,000 $ 61,000 $ 61,000 8,400 $ 8,400 4,000 $ 4,000 5,600 $ 5,600 3,500 $ 3,500 $ 28,000 $ 28,000 $ 600 $ 600 103,700 $ 103,700 $ 50,100 $ 61,000 $ 53,600 $ 42,700 $ 10,900 $ 10,900 $ 61,000 $ 61,000 $ 53,600 $ 53,600 $ A A A A

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