220. The adjusted trial balance of E. Pace, Consultant, is entered on the partial work sheet below. Complete the worksheet using the following information:
a. Salaries earned by employees that are Unpaid and unrecorded, $500.
b. An inventory of supplies showed $800 of Unused supplies still on hand.
c. Depreciation on equipment, $1,300.
E. PACE, CONSULTING
Work Sheet
For the year ended December 31
Account
Unadjusted Trial Balance
Adjustments
Adjusted Trial Balance
Income Statement
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit
Cash
$14,000
Supplies
1,000
Equipment
11,000
Accum. Depr. – Equip.
$2,000
Accounts payable
500
Salaries payable
Common stock
2,000
Retained earnings
4,500
Dividends
1,500
Fees earned
30,000
Salary expense
7,500
Rent expense
4,000
Supplies expense
Depreciation expense
Totals
$39,000
$39,000
221. A partially completed worksheet is shown below. The unadjusted trial balance columns are complete. Complete the adjustments, adjusted trial balance, income statement, and balance sheet columns.
PLATEN COMPANY
Work Sheet
For the year ended December 31
Account
Unadjusted
Trial Balance
Adjustments
Adjusted Trial Balance
Income
Statement
Balance
Sheet
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit
Cash
40
Accounts receivable
Prepaid insurance
25
Supplies
14
8
Office equipment
340
340
Accum.depr. – Officeequip.
45
Accounts payable
57
57
Rent payable
Common stock
100
100
Retained earnings
32
32
Dividends
35
35
Fees earned
300
380
Rent expense
60
90
Utilities expense
20
Insurance expense
10
Supplies expense
Deprec. exp – Office equip.
45
Totals
534
534
Net income
Totals
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