80.2K

Verified Solution

Link Copied!

The trial balance of Ortiz Company as of January 31, 20X1, after the company completed the first month of operations, is shown in the partial worksheet below. Required: Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $6,800; expired insurance, $6,800; depreciation expense on equipment for the period, $2,900. Analyze: How does the insurance adjustment affect Prepaid Insurance?

Chapter 5 Homework vity question-group/EZASI Help Save Scart 1 Check my won 08 Dot The trial balance of Ortiz Company as of January 31 20xt, after the company completed the first month of operations, is shown in the partial worksheet below. Required: Complete the worksheet by making the following adjustments supplies on hand at the end of the month, 56,800, expired insurance $6,800, depreciation expense on equipment for the period, $2.900. Analyze How does the insurance adjustment affect Prepaid insurance? Complete this question by entering your answers in the tabs below. Partial Works Analyze 20.500 Complete the worksheet by making the following adjustments, supples on hand at the end of the month $6,000; expired insurance, 56,800, depreciation expense on equipment for the period, $2,900 ORTIZ COMPANY Worksheet Partial Month Ended January 31, 20X1 Account Name Triat Balance Adjustments Adjusted Triance Income Balance Sheet Datu Crede Debt Credit Debit Credit De D Creo Cash 103,700 Accounts receivable Supplies 38.100 Prepaid insurance 58.200 Equipment 107.200 Accumulated precation Equipment Accounts payable 24,500 Frank Ortur. Capital 251.700 Frank Orta Drowing 16.100 Feet income 99.900 Supplies opene therance expense Saluries expense 30.000 Depreciation expense Equipment Us expense 2000 Subtota 375.100 5 576 100 Turtle

Answer & Explanation Solved by verified expert

See Answer