need help? BUS146 E2 (4-6) 1. From the following items in tral balance column of

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BUS146 E2 (4-6) 1. From the following items in tral balance column of 2. Fro fmanc the co the worksheet for Jones Company at June 30 and the data listed below, make the necessary adjustments, and complete the worksheet (50 points) Trial Balance DebitCredit ccount Cash Acct. Rec. Supplies Prepaid Ins Office Fum Acct Pay Jones Capital Fees Eamed Wages Exp 500 300 200 500 900 900 700 900 100 2.500 250 a. Depreciation Expense is $15 b. Supplies available $200, supplies on hand S50 Prepaid Insurance balance $500 one-fifth has expired

Explanation / Answer

Trial Balance Adjustments Adjusted Trial balance Income Statement Balance sheet Accounts Dr. CR. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash 500 500 500 Accounts receivable 300 300 300 Supplies 200 150 50 50 Prepaid Ins 500 100 400 400 office furniture 900 900 900 Accounts Pay 900 900 900 Jones capital 700 700 700 Fees earned 900 900 900 Wages Expense 100 100 100 Depreciation Expense 15 15 15 Accumulated Depreciation 15 15 15 Supplies Expense 150 150 150 Insurance expense 100 100 100 TOTALS 2500 2500 265 265 2515 2515 365 900 2150 1615 Net Income 535 535 Gross Total 900 900 2150 2150

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