30 Objective: To prepare a work sheet Directions: From the information that follows, prepare a work sheet for Ragan Financial Services for the year ended December 31, 20X2. Notice that the amounts this exercise may seem unrealistically small. Our objective is to allow you to do a wo sheet without arithmetic getting in the way. Account Balance Cash $ 60 Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Donna Ragan, Capital Donna Ragan, Drawing 30 Fees Earned 161 Salaries Expense Rent Expense Supplies Expense Insurance Expense Depreciation Expense-Equipment Adjustment data: (a) Supplies on hand, $30. (b) Insurance expired, $10. (c) Depreciation of equipment, $10. (d) Unpaid salaries, $10. 100 111