Question

1. & 2. 3. The following data are taken from the unadjusted trial balance of the Westcott Company at December 31. Complete the work sheet following adjustment Complete the Adjusted Trial Balance columns of the work sheet. (Enter their balances in the correct Debit or Credit column of the Unadjusted Trial Balance columns.) Use the following adjustment information to complete the Adjustments columns of the work sheet a. Depreciation on equipment, $11 b. Accrued salaries, $7 c. The $15 of unearned revenue has been earned d. Supplies available at December 31, $25 e. Expired insurance, $12 WESTCOTT COMPANY Partial Work Sheet For the Year Ended December 31 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. S Cash Accounts receivable Supplies Prepaid insurance Equipment Accumulated depreciation Equip Accounts payable Salaries payable Innretrov 30 26 42 36 63 22 8 151 < Prey 2 of 3 !!! Next >

Answer 1

			Unadjusted		Adjustments		Adjusted
			Debit	Credit	Debit	Credit	Debit	Credit
Cash			$   30.00				$   30.00
Accounts receivable			$   26.00				$   26.00
Supplies			$   42.00			$   17.00	$   25.00
Prepaid insurance			$   36.00			$   12.00	$   24.00
Equipment			$   63.00				$   63.00
Accumulated depreciation-Equip				$   22.00		$   11.00		$   33.00
Accounts payable				$      8.00				$      8.00
Salaries payable						$      7.00		$      7.00
Unearned revenue				$   15.00	$   15.00			$          -
Common stock				$   15.00				$   15.00
Retained earnings				$   46.00				$   46.00
Dividends			$   18.00				$   18.00
Revenue				$ 156.00		$   15.00		$ 171.00
Depreciation expense-Equip					$   11.00		$   11.00
Salaries expense			$   32.00		$      7.00		$   39.00
Insurance expense					$   12.00		$   12.00
Supplies expense					$   17.00		$   17.00
Utilities expense			$   15.00				$   15.00
Totals			$ 262.00	$ 262.00	$   62.00	$   62.00	$ 280.00	$ 280.00