Exercise 4-4 (Algo) Completing work sheet adjustments LO P1 1. Use the following information to complete the Adjustments and Adjusted Trial Balance columns of the work sheet a. Depreciation on equipment, $8 b. Accrued salaries, $11 c. The $17 of unearned revenue has been earned d. Supplies available at December 31, $40 e. Expired insurance, $20 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. WESTCOTT COMPANY Unadjusted Trial Balance Adjustments Account Title Debit Credit Debit Credit Debit Credit Debit Adjusted Trial Balance Income Statement Balance Sheet and Statement of Owner's Equity Credit Debit Credit Cash Accounts receivable Supplies Prepaid insurance Equipment $ 46 + 27 54 28 49 Accumulated depreciation-Equipment Accounts payable $ 11 275 Salaries payable Unearned revenue 17 82 16 16 125 W. Westcott, Capital S W. Westcott, Withdrawals Services revenue Depreciation expense-Equipment Salaries expense 23 Insurance expense Supplies expense Utilities expense Totals Net Income Totals 17 $ 260 $ 260