The trial balance of Sanchez Company as of February 29, 2016, appears below.

INSTRUCTIONS
1. Record the trial balance in the Trial Balance section of the worksheet.
2. Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $2,200; expired rent, $2,000; depreciation expense for the period, $1,000.
Analyze:
Why do you think the account Accumulated Depreciation€”Equipment has a zero balance on the trial balanceshown?

Transcribed Image Text:

Sanchez Company Worksheet (Partial) Month Ended February 29, 2016 TRIAL BALANCE ADUSTMENTS ACCOUNT NAME DEBT CREDIT DEEIT CREDIT Cash Accounts Receivoble Supplies Prepaid Rent Equipment Accumulated Depreciation -Equipment Accounts Payable Maria Sanchez, Capital Maria Sanchez, Drawing Fees Income Depreciation Expense Equipment Rent Expense Salares Expense Supplies Expense Utilities Expense Totals 73 000 00 6 400 00 4 2 0 000 24 000 00 46 000 00 12 00 0 o0 98 5 0 0 00 3000 00 54 000 00 1 600 00 164 500 00 164500 00