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1. Use the following information to complete the Adjustments and Adjusted Trial Balance columns of the work sheet. a. Depreciation on equipment, $10 b. Accrued salaries, $13 c. The $19 of unearned revenue has been earned d. Supplies available at December 31, $50 e. Expired insurance, $22 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. The following data are taken from the unadjusted trial balance of the Westcott Company at December 31. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{11}{|c|}{ For Year Ended December 31} \\ \hline \multirow{3}{*}{ Account Title } & \multicolumn{2}{|c|}{UnadjustedTrialBalance} & \multicolumn{2}{|c|}{ Adjustments } & \multicolumn{2}{|c|}{AdjustedTrialBalance} & \multicolumn{2}{|c|}{ Income Statement } & \multicolumn{2}{|c|}{ Balance Sheet } \\ \hline & Debit & Credit & Debit & Credit & Debit & Credit & Debit & Credit & Debit & \multirow[t]{2}{*}{ Credit } \\ \hline & 56 & & & & 56 & & & & 56 & \\ \hline Accounts receivable & 33 & & & & & & & & & \\ \hline Supplies & 66 & & & 16 & 50 & & & & 50 & \\ \hline Prepaid insurance & 32 & & & 22 & 10 & & & & 10 & \\ \hline Equipment & 53 & & & & 53 & & & & & \\ \hline Accumulateddepreciation-Equipment & & 29 & & 10 & & & & & & \\ \hline Accounts payable & & 13 & & & & & & & & \\ \hline Salaries payable & & & & 13 & & & & & & \\ \hline Unearned revenue & & 19 & 19 & & & & & & & 19 \\ \hline Common stock & & 38 & & & & & & & & \\ \hline Retained earnings & & 60 & & & & 60 & & & & \\ \hline Dividends & 20 & & & & 20 & & & & & \\ \hline Services revenue & & 145 & & & & 164 & & 164 & & \\ \hline Depreciation expense-Equipment & & & 10 & & 10 & & 10 & & & \\ \hline Salaries expense & 25 & & & & & & & & & \\ \hline Insurance expense & & & 22 & & 22 & & 22 & & & \\ \hline Supplies expense & & & 16 & & 16 & & 16 & & & \\ \hline Utilities expense & 19 & & & & 19 & & 19 & & & \\ \hline Totals & 304 & 304 & 80 & 80 & 327 & 314 & 105 & 164 & 222 & 182 \\ \hline Net Income & & & & & & & & & & \\ \hline Totals & & & & & & & 164 & 164 & 222 & 182 \\ \hline \end{tabular}

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