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Adjustments and Work Sheet Showing Net Income

Complete the adjustments for the trial balance after one month of operation for Mason's Delivery Service as of September 30, 20--.

1. Supplies inventory as of September 30, $80.
2. Insurance expired (used), $275.
3. Depreciation on delivery equipment, $1,300.
4. Wages earned by employees but not paid as of September 30, $360.

Required:

1. Enter the adjustments in the Adjustments columns of the work sheet. 2. Complete the work sheet.

Mason's Delivery Service Work Sheet For Month Ended September 30, 20-- Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 1,700 Accounts Receivable 940 Supplies 640 Prepaid Insurance 1,100 Delivery Equipment 6,500 Accumulated Depreciation - Delivery Equipment 1,250 Accounts Payable Vages Payable Dill Mason, Capital 7,980 Dill Mason, Drawing 1,350 Delivery Fees 6,200 Wages Expense 1,450 Advertising Expense 470 Rent Expense 750 Supplies Expense Phone Expense 180 Insurance Expense Repair Expense 250 Dil and Gas Expense 100 Depreciation Expense - Delivery Equipment 15,430 15,430 Net Income