1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
EastWind [94]
3 years ago
15

The following data are taken from the unadjusted trial balance of the Westcott Company at December 31, 2017. Complete the worksh

eet following adjustment. (Enter their balances in the correct Debit or Credit column)
Use the following adjustment information to complete the work sheet.

a. Depreciation on equipment, $3.

b. Accrued salaries, $6.

c. The $12 of unearned revenue has been earned.

d. Supplies available at December 31, 2017, $15.

e. Expired insurance, $15.

Unadjusted Trial Balance Adjustments Adjusted Trial Balance
Account Title Dr. Cr. Dr. Cr. Dr. Cr.
Cash $21
Accounts Receivable 12
Supplies 24
Prepaid Insurance 18
Equipment 39
Accumulated Depreciation - Equip. $15
Accounts Payable 6
Salaries Payable
Unearned Revenue 12
W. Westcott, Capital 42
W. Westcott, Withdrawals 6
Revenue 75
Depreciation Expense - Equip
Salaries Expense 18
Insurance Expense
Supplies Expense
Utilities Expense 12
Totals $150 $150
Business
1 answer:
Alex17521 [72]3 years ago
3 0

Answer:

The total of adjusted trial balance debit and credit side is $159 after posting the given transactions. The sheet is attached with the full working showing both of the trial balances - un-adjusted and adjusted one.

Explanation:

Following journal entries were posted in the trial balance to adjust it.

<u>Transaction a:</u>

Debit: depreciation expense $3

Credit: accumulated depreciation $3

<u>Transaction b: </u>

Debit: salaries expense $6

Credit: accrued salaries $6

<u>Transaction c:</u>

Debit: Unearned revenue $12

Credit: Revenue $12

When unearned revenue is earned, it is removed from unearned revenue by debiting it and then it is credited to the revenue for the period.

<u>Transaction d:</u>

Debit: supplies expense $9

Credit: supplies $9

<u>Transaction e:</u>

Debit: insurance expense $15

Credit: Insurance prepaid $15

When the insurance is expired, it is deducted from the prepaid insurance by crediting it from prepaid insurance account and it is debited to insurance expense account.

Download docx
You might be interested in
Which of the following is not descriptive of external environmental scanning? used as a tool for corporations to avoid strategic
julsineya [31]

Answer:

used to identify major stockholders

Explanation:

Environmental scanning is a management strategy that focuses on systematically acquiring informations about occasions, trends, events or patterns through surveys and analysis of these information  in an organisation's external and internal environment. The informations acquired through environmental scanning is then used by the executive management in strategically planning the organisation's future and exploitation of available opportunities for the success of the organization.

The internal environmental scanning offers an organization strength and weakness while the external environmental scanning provides information about opportunities and threats.

Generally, the external environmental scanning gives an overview of the opportunities in the market as well as potential threats to an organization.

Hence, the following are descriptive of an external environmental scanning;

1. Used as a tool for corporations to avoid strategic surprise.

2. Used to monitor, evaluate, and disseminate information relevant to the organizational development of strategy.

3. Used to determine a firm's competitive advantage.

4. Used as a tool to ensure a corporation's long-term health.

7 0
3 years ago
What are examples of cocurricular education? Check all that apply.
DENIUS [597]

a CTSO for students taking marketing classes

a club providing hands-on laboratory experience for students taking a science class

an agricultural organization for students in an agricultural school

4 0
3 years ago
Read 2 more answers
Researching the demographics of a fan base for a particular sport would be most closely associated with which core standard of m
d1i1m1o1n [39]

Answer:Marketing Information Management

Explanation:The process of monitoring, organizing and analyzing the results of data collected from the marketplace with an aim of developing strategies for marketing activities is Marketing Information Management.

Demographics relates to statistical data of a given population. Such as the age, gender, race and so on.

As such, a research of demographics of a fan base is closely associated with marketing information management as the information gathered will be relevant for forecasting.

5 0
3 years ago
One of the difficulties associated with value-based pricing is that
nikdorinn [45]

One of the difficulties associated with value-based pricing is that the producer may end up running at loss because the price does cover the cost incurred during production.

The value-based pricing entails fixing of prices based on customer's perceived value of the product.

The companies who practiced the value-based pricing do so to make sure the product price and expectation of the customers match.

However, one of the difficulties associated with value-based pricing is that the producer may end up running at loss because the price does cover the cost incurred during production.

Learn more about this here

<em>brainly.com/question/20699420</em>

7 0
3 years ago
At what rate per cent per annum will 4000 yield an interest of 410 in 2 years?​
andrey2020 [161]

Answer:

5%

Explanation:

The applicable formula is A = P( 1 + r) ^ n

where A= amount: P is the principal, r, interest rate, n time

In this case,

A = principal + interest = Rs 410 { Rs 4000 + Rs410}

P= Rs 4000

r= ?

n= 2

r is?

4410 = 4000(1 + r) ^2

(1 + i)^ 2 = 4410/4000

(1 + i)^ 2 = 1.1025

1 + i = √1.1025

1 + i = 1.05

i = 1.05 - 1

i = 0.05

0.05 × 100 = 5%

5 0
3 years ago
Other questions:
  • Senior management uses finance and accounting information systems to
    9·1 answer
  • A client who is a skilled artist and has an Associate’s degree from the local community college, is interested in becoming a med
    12·1 answer
  • Can you point out some differenced between welfare definition and scarcity and choice
    8·1 answer
  • Susie has lost her job in a Vermont textile plant because of import competition. She intends to take a short course in electroni
    6·1 answer
  • Opening several loans within a 60-day period can do which of the following to a credit score?
    9·2 answers
  • At the beginning of the recent period, there were 900 units of product in a department, one-third completed. These units were fi
    8·1 answer
  • Select the item that can be answered by using knowledge. 1. A transaction's order date, amount sold, and quantity ordered 2. Tak
    14·1 answer
  • IKEA advertises throughout the year, but significantly increases its advertising during the back-to-school time frame, thus impl
    12·1 answer
  • "The Talley Corporation had taxable operating income of $345,000 (i.e., earnings from operating revenues minus all operating cos
    14·1 answer
  • In measuring return-on-investment (ROI) from sport sponsorships, companies have used all of the following methods except A. peri
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!