The following data are taken from the unadjusted trial balance of the Westcott Company at December 31,
Question:
1. Use the data above to prepare a worksheet. Enter the accounts in proper order and enter their balances in the correct debit or credit column.
2. Use the following adjustment information to complete the worksheet.
a. Depreciation on equipment, $3
b. Accrued salaries, $6
c. The $12 of unearned revenue has been earned
d. Supplies available at December 31, 2013, $15
e. Expired insurance,$15
Accounts Payable Accounts Receivable.. Accumulated Depreciation -Equip5 Salaries Expense Cash.4-.... Equipment $6 Prepaid Insurance $18 W Westcott, Withdrawals6 . . . 75 Unearned Revenue . 12 18 Utilities Expense ······.. . . 12 2 Revenue Te 21 Supplles.. 24 39 W Westcott, Capital.42
Step by Step Answer:
WEstcott company December 31 2013 Unadjusted Trial Balance ...View the full answer
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
Students also viewed these Accounting questions
-
The following data are taken from an unadjusted trial balance at December 31, 2016: Prepaid rent $600 Office supplies 700 Income taxes payable -0- Unearned commissions revenue 1500 Salaries expense...
-
The following data are taken from the comparative balance sheets prepared for Gubler Wholesale Company. Sales for 2011 were $1,200,000. Sales for 2010 were $1,000,000. 1. Prepare the Assets section...
-
The following data are taken from the comparative balance sheets of Girard Billiards Club, which prepares its financial statements using the accrual basis of accounting. Fees are billed to members...
-
Which set of parametric equations is shown in the graph below? Explain your reasoning. (a) (b) x = t y = f
-
What is Earned Value Management and who on the project team should be trained to use it and understand it?
-
Consider a system of C components with internal energy E(S, V, N, N2,..., NC). Find the differential and integrated forms of the fundamental equation for e = E/N, where N Ni. =
-
Compare and contrast components to objects.
-
In Problem Sl-5 assume that Nicole, with the help of a financial newsletter and some library research, has been able to assign probabilities to each of the possible interest rates during the next...
-
Firm A has net fixed assets of $100 in 2007 and it is operating at 90% capacity. Assume it cannot dispose of its redundant fixed assets . In 2008, sales are projected to grow by 30% . How much net...
-
Haverhill Engineers Ltd. manufactures components for the car industry. It is considering automating its line for producing crankshaft bearings. The automated equipment will cost $700,000. It will...
-
Following are Nintendos revenue and expense accounts for a recent calendar year (yen in millions). Prepare the companys closing entries for its revenues and its expenses. Net sales . . . . . . . . ....
-
On April 1, 2013, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the companys first month. April 1 Nozomi invested $30,000 cash and computer...
-
1. If the questionnaire is an online survey, would it be successful? Why or why not? 2. If the park department uses a mail survey, what issues must be resolved? Would it be successful? Why or why...
-
Cathey Corporation has a 12% weighted average cost of capital. Catheys free cash flows, estimated in the previous question, are expected to grow at 4% beginning at Year 2 and thereafter. What is the...
-
Show that B c = bP c /RT c = 0.07780 for the Peng-Robinson equation by setting up the cubic equation for B c analogous to the van der Waals equation and solving analytically as described in Appendix...
-
Greg and Tanya Ridpath have two children, ages 6 years and 5 months. Their younger child, Ray, was born with a congenital heart defect that will require several major surgeries in the next few years...
-
Cathey Corporation currently has sales of $1,000, which are expected to grow by 10% from Year 0 to Year 1 and by 4% from Year 1 to Year 2. The company currently has an operating profitability (OP)...
-
Brad Rowe was a self-employed window washer earning approximately $700 per week. One day, while cleaning windows on the eighth floor of the First National Bank Building, he tripped and fell from the...
-
Which of the following are Fischer projections of a meso compound? - - - CH-0 - -OH - CHOH A - - CHOH - -OH - CHOH B - - - -CHOH - - CHOH - - HOCH -CHOH - -
-
What can scientists learn by comparing the fossilized skeletons of extinct primates with the bones of modern species?
-
Mobile Processes, Inc., a U.S. company, made network management devices. To test the demand for the devices in Asia, Mobile exported the products to Asian markets. When the test proved successful,...
-
If assets are valuable resources and asset accounts have debit balances, why do expense accounts also have debit balances?
-
Should a transaction be recorded first in a journal or the ledger? Why?
-
Why does the recordkeeper prepare a trial balance?
-
Explain how the OS and Utility programs work with application software. Summarize the features of several embedded operating systems course: introduction to information technology code: EBI...
-
Please explain and describe what are input and output devices. Explain what the differences are between an operating system, an embedded operating system, and a network operating system. Explain and...
-
Determine the complexity of the following pseudocode snippets in Big-O and Big-Q2. Do these code snippets have a Big-e? What are the functions doing? 1) my_func(some_nums) result = 0 for (num in...
Study smarter with the SolutionInn App