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1 1. Use the following Information to complete the Adjustments and Adjusted Trial Balance columns of the work sheet. 10 points a. Depreciation on equipment, $3 b. Accrued salarles, S6 C. The $12 of unearned revenue has been earned d. Supplies available at December 31, $15 e. Explred Insurance, $15 2. Extend the balances in the Adjusted Trial Balance columns of the work sheet to the proper financial statement columns. Compute totals for those columns, Including net Income. Answer is not complete. WESTCOTT COMPANY Work Sheet For Year Ended December 31 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet & Statement of Owner's Equity Account Title Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit 21 IS s S 21 IS s 21 12 12 12 24 IS 9 15 15 3 3 18 15 3 3 39 39 39 IS 15 3 18 IS 18 Cash Accounts receivable Supplies Prepaid insurance Equipment Accumulated depreciation- Equipment Accounts payable Salaries payable Unearned revenue W. Westcott, Capital W. Westcott, Withdrawals Services revenue 6 8 6 6 6 12 S 12 42 42 42 6 6 6 6 75 12 87 3 3 Depreciation expense-Equipment Salaries expense 18 6 24 24 Insurance expense 15 9 15 9 12 Supplies expense Utilities expense 9 12 12 36 Totals IS 150 S 150 S 45 $ 45 S 159 IS 159 0 96 66 Net Income Totals S 36 S 0 S 96 IS $ 66

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