This is one question. The wording is the top half the chart is the second half.

Question

This is one question. The wording is the top half the chart is the second half.

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, $6,200; expired insurance, $6,500; depreciation expense for the period, $2,600. Analyze: How does the insurance adjustment affect Prepaid Insurance? Complete this question by entering your answers in the tabs below Analyze Worksheet Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $6,200; expired insurance, $6,500; depreciation expense for t NEAL COMPANY Worksheet (Partial) Month Ended January 31, 2019 Trial Balance Adjustments Adjusted Trial Balance Income Statement Ba Name Debit Credit Credit S 105,000 21,800 39,400 66,000 109,000 Accumulated Accounts Payable 25,800 253,000 15,400

Explanation / Answer

WORKSHEET 31-Dec-19 Account Names Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 105,000 105,000 105,000 Accounts Receivable 21,800 21,800 21,800 Office Supplies 39,400 33200 6200 6200 Prepaid Insurance 66,000 6,500 59,500 59,500 Equipment 109,000 109,000 109,000 Accumulated Depreciation-Equip 2600 2,600 2,600 Accounts payable 25800 25,800 25,800 Alexander Neal, Capital 253,000 253,000 253,000 Alexander Neal, Wthdrawals 15,400 15,400 15,400 Ffees income 114200 114200 114200 Supplies expense 33,200 33,200 33,200 Insurance expense 6500 6,500 6500 Salaries expense 32,200 32,200 32,200 Depreciation 2600 2,600 2,600 Utilities 4,200 4,200 4,200 Total 393,000 393000 42,300 42,300 395,600 395,600 78,700 114,200 316,900 281,400 Net income 35,500 35,500 Total. 114,200 114,200 316,900 316,900

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