1. Use the following information to complete the Adjustments columns of the work sheet. 

a. Depreciation on equipment, $3 

d. Supplies available at December 31, $15 

b. Accrued salaries, $6 e. Expired insurance, $15 

c. The $12 of unearned revenue has been earned

d. Supplies available at December 31, $15

e. Expired 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.

The following data are taken from the unadjusted trial balance of the Westcott Company at December 31.

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Balance Sheet & Statement of Unadjusted Adjusted Income Trial Balance Adjustments Trial Balance Statement Owner's Equity Account Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash 21 Accounts receivable Supplies Prepaid insurance Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned revenue W. Westcott, Capital W. Westcott, Withdrawals Services revenue Depreciation expense-Equipment Salaries expense Insurance expense Supplies expense Utilities expense Totals Net income Totals 12 24 18 39 15 6. 12 42 6. 75 18 12 150 150