Please help. I am so lost. Complete the following work sheet for the A Time for

Question

Please help.  I am so lost.

Complete the following work sheet for the A Time for You Shop for the current fiscal year ended December 31. Data for adjustments are as follows: Inventory of supplies $ 900 Accrued wages 5,500 Depreciation of equipment 9.000 Insurance expired 1.000 ACCOUNT NAME TRIAL BALANCE ADJUSTMENTS INCOME STATEMENT BALANCE SHEET Debit Credit Debit Credit Debit Credit Debit Credit Cash 6,500 Accts. Rec. 3,500 Supplies 1,200 Prepaid Insurance 1,300 Equipment 73,500 Acc. Depr-Equip 17,700 Accounts Payable 2,900 Wages Payable B. Time, Capital 50,000 B. Time, Drawing 28,000 Service Income 107,000 Wages Expense 59,000

Explanation / Answer

Excuse the formatting:

Account
name trial
balance adjustments income
statement balance
sheet
Debit Credit debit credit debit credit debit credit Cash 6500




6500
AR 3500




3500
Supplies 1200

300

900
Prepaid Insurance 1300

1000

300
Equipment 73500




73500
Acc. Depr-Equip
17700
9000


26700 Accounts Payable
2900




2900 Wages Payable


5500


5500 B. Time, Capital
50000




50000 B. Time, Drawing 28000




28000
Service income
107000




107000 Wages Expense 59000




59000

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