Question: Problem 5.1A Completing the worksheet. LO 5-1, 5-2, 5-3 The trial balance of Neal Company as of January 31, 2019, after the company completed the

 Problem 5.1A Completing the worksheet. LO 5-1, 5-2, 5-3 The trialbalance of Neal Company as of January 31, 2019, after the company

Problem 5.1A Completing the worksheet. LO 5-1, 5-2, 5-3 The trial balance of Neal Company as of January 31, 2019, after the company completed the first month of operations, is shown in the partial worksheet below. Required: 2. Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $2,100; expired insurance, $2,750; depreclation expense for the period, $800. Analyze: How does the insurance adjustment affect Prepaid Insurance? Complete this question by entering your answers in the tabs below Partial Worksheet Analyze Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $2,100; expired insurance, $2,750; depreciation expense for the period, $800 NEAL COM Worksheet (Partial) Month Ended January 31, 2019 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance Equipment 52,500 10,900 19,700 33,000 54,500 Accounts Payable Alexander Neal, Capital Alexander Neal, Drawing Fees Income Supplies Expense Insurance Expense Salaries Expense Depreciation Expense-Equipment Utilities Expense Sub -Totals 12,900 126,500 7,700 57,100 16,100 2,100 5 196,500 196,500 $ Totals Partial Worlesheet Analyze >

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!