Consider the data in Figure 5.25 for Deb?s Dance Studio:

Adjustment Data

1. Insurance expired, $1,000.

2. Dance supplies on hand, $1,100.

3. Depreciation on dance equipment, $2,500.

4. Salaries earned by employees but not due to be paid until December, $800.

Your task is to do the following:

1. Prepare a worksheet.

2. Journalize adjusting and closing entries.

DEB'S DANCE STUDIO TRIAL BALANCE NOVEMBER 30, 201X Account Titles Dr. Cr. Cash 47 4 0000 Accounts Receivable 900000 Prepaid Insurance 130000 Dance Supplies 160000 Dance Equipment 18 00000 Accumulated Depreciation, Dance Equipment Accounts Payable 820000 20 00000 D. Dee, Capital 34 4 0000 D. Dee, Withdrawals 60000 Dance Fees Earned 18|00100 Salaries Expense 180000 Telephone Expense 100000 Advertising Expense 60000 Totals 8130 000 |813|0 00