Net Solutions has the trail balance follows. Account Title Cash Accounts Receivable> Office Supplies Prepaid Insurance Merchandise

Net Solutions has the trail balance follows.

Transcribed Image Text:

Account Title Cash Accounts Receivable> Office Supplies Prepaid Insurance Merchandise Inventory Accounts Payable Unearned Revenue- Notes Payable Dave, Capital Dave, Drawing Service Revenue Sales Rent Expense Total Net Solutions Unadjusted Trial Balance Dec. 31, 2020 Debit $1,800 1,500 900 3,000 19,400- ✔ ✔ 2 1,200- ✔ 4,500. $32,300 Balance OV Credit work will be done the next year 2021. ✔ ✔ 2 1,200 2,700. 2,500 10,500 $32,300 i) The physical count showed $150 of supplies HA HAU on hand; ii) An analysis of the company's insurance policies showed that $840 of unexpired insurance coverage remains; iii) Wage of $900 have been incurred but are not paid as 1 of Dec. 31, 2020; iv) $900 of the service v kate 12,400 3,000 Account Title Cash Accounts Receivable> Office Supplies Prepaid Insurance Merchandise Inventory Accounts Payable Unearned Revenue- Notes Payable Dave, Capital Dave, Drawing Service Revenue Sales Rent Expense Total Net Solutions Unadjusted Trial Balance Dec. 31, 2020 Debit $1,800 1,500 900 3,000 19,400- ✔ ✔ 2 1,200- ✔ 4,500. $32,300 Balance OV Credit work will be done the next year 2021. ✔ ✔ 2 1,200 2,700. 2,500 10,500 $32,300 i) The physical count showed $150 of supplies HA HAU on hand; ii) An analysis of the company's insurance policies showed that $840 of unexpired insurance coverage remains; iii) Wage of $900 have been incurred but are not paid as 1 of Dec. 31, 2020; iv) $900 of the service v kate 12,400 3,000

Answer rating: 100% (QA)

To prepare the Balance sheet the following adjustments will be done to arrive at the adjusted trial ... View the full answer