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College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570

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BuyFindarrow_forward

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570
Textbook Problem

The trial balance for Mason’s Insurance Agency as of August 31, after the firm has completed its first month of operations, is shown on the next page.

images

Required

  1. 1. Record amounts in the Trial Balance columns of the work sheet.
  2. 2. Complete the work sheet by making the following adjustments and lettering each adjustment:
    1. a. Expired or used-up insurance, $260.
    2. b. Depreciation expense on office equipment, $900.
    3. c. Supplies used, $200.

1.

To determine

Indicate the debit and credit balances on the trial balance columns of worksheet.

Explanation

Trial balance: Trial balance is a summary of all the asset, liability, and equity accounts and their balances.

Indicate the debit and credit balances on the tr...

2.

To determine

Indicate the given adjustments and complete the worksheet for Company MI for the month ended September 30, 20--.

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