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Question
The adjusted trial balance of E. Pace, Consultant, is entered on the partial work sheet below. Complete the worksheet using the following information:
a. Salaries earned by employees that are Unpaid and unrecorded, $500.
b. An inventory of supplies showed $800 of Unused supplies still on hand.
c. Depreciation on equipment, $1,300.
| E. PACE, CONSULTING Work Sheet For the year ended December 31 | ||||||||
| Account | Unadjusted Trial Balance | Adjustments | Adjusted Trial Balance | Income Statement | ||||
| Debit | Credit | Debit | Credit | Debit | Credit | Debit | Credit | |
| Cash | $14,000 | |||||||
| Supplies | 1,000 | |||||||
| Equipment | 11,000 | |||||||
| Accum. Depr. Equip. | $2,000 | |||||||
| Accounts payable | 500 | |||||||
| Salaries payable | ||||||||
| Common stock | 2,000 | |||||||
| Retained earnings | 4,500 | |||||||
| Dividends | 1,500 | |||||||
| Fees earned | 30,000 | |||||||
| Salary expense | 7,500 | |||||||
| Rent expense | 4,000 | |||||||
| Supplies expense | ||||||||
| Depreciation expense | ||||||||
| Totals | $39,000 | $39,000 | ||||||
Answer
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