A partially completed worksheet is shown below.The unadjusted trial balance columns are complete.Complete the adjustments,adjusted trial balance,income statement and balance sheet columns.

Question

Quizplus · Accepted Answer

a Adjusted fees earned - unadjusted fees earned = adjustment to fees earned
$380 - $300 = $80; Debit Accounts receivable; credit Fees earned
b. Debit Insurance expense; credit Prepaid insurance
c. Unadjusted supplies - adjusted supplies = supplies expense
$14 - $8 = $6; Debit Supplies expense; credit Supplies
d. Debit Depreciation expense; credit Accumulated depreciation
e. Debit Rent expense; Credit Rent payable.

A Partially Completed Worksheet Is Shown Below