You must prepare the task on the Excel electronic sheet. Accounts and amounts must be entered in the cells, they must not be copied.

there is no information provided about when was the pre paid insurance purchased and for how many months it was paid .

Matos Corporation Unadjusted Trial Balance May 31, 2020

Description Debit Credit

CASH 56800

ACCOUNTS RECEIVABLE 37700

SUPPLIES 7400

PREPAID INSURANCE 1200

EQUIPMENT 196000

ACCUMULATED DEPRECIATION 39200

NOTES PAYABLE 97600

ACCOUNTS PAYABLE 26000

TERRY COLBY CAPITAL 129150

TERRY COLBY DRAWINGS 56000

FEES EARNED 415250

SALARIES EXPENSE 270000

RENT EXPENSE 51800

ADVERTISING EXPENSE 25200

MISCELLANEOUS EXPENSE 5100

707200 707200

Prepare the following adjustments in a journal with the information provided in the task.

Transfer the wage accounts to the relevant T accounts. First writing down the original balance they have in the Unadjusted Trial Balance and then transferring those from the wage.

Add any account that is not in the Unadjusted Trial Balance to make adjustments to T accounts.

Calculate balances in T accounts.

Prepare the Adjusted Trial Balance.

• Supplies on hand$1,300
• One month of prepaid insurancehas expired.
• One month depreciation of equipment is $39,200.
• Salaries not paid to employees amount to $3,500
• Services given but not billed amount to $2,000.