Textbook Problem

Complete the work sheet for Ramey Company, dated December 31, 20–, through the adjusted trial balance using the following adjustment information:

1. a. Expired or used-up insurance, $460.
2. b. Depreciation expense on equipment, $870. (Remember to credit the Accumulated Depreciation account for equipment, not Equipment.)
3. c. Wages accrued or earned since the last payday, $120 (owed and to be paid on the next payday).
4. d. Supplies remaining, $80.