Question

Selected worksheet data for Elsayed Company are presented below. Trial Balance Adjusted Trial Balance Account Titles...

Selected worksheet data for Elsayed Company are presented below.


Trial Balance

Adjusted Trial Balance

Account Titles

Debit

Credit

Debit

Credit
Accounts Receivable

?

 33,311
Prepaid Insurance 26,057 20,182
Supplies 7,197

?
Accumulated Depreciation—Equipment 12,313

?
Salaries and Wages Payable

?

 4,852
Service Revenue 87,773 96,120
Insurance Expense

?
Depreciation Expense 11,973
Supplies Expense 4,478
Salaries and Wages Expense

?

 49,220
Business   Accounting   
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Answer #1
Trail Balance Adjusted Trail Balance
Dr. Cr. Dr. Cr.
Accounts Receivable $21,338 $33,311
Prepaid Insurance $26,057 $20,182
Supplies $7,197 $2,719
Accumulated Depreciation Equipment $12,313 $24,286
Salaries and Wages Payable    $0 $4,852
Service Revenue $87,773 $96,120
Insurance Expense $5,875
Depreciation Expanse $11,973
Supplies Expenses $4,478
Salaries and Wages Expense $44,368 $49,220

Explanation;  

Accounts Receivable = $33,311 -$11,973 = $21,338

Supplies =$7,197 -$4,478 = $2,719

Accumulated Depreciation Equipment =$12,313+$11,973 =$24,286

Salaries and Wages Payable =$0 No liability recorded initio adjustments are made .

Insurance Expense =$26,057 -$20,182 =$5,875

Salaries and Wages Expense =$49,220 - $4,852 = $44,368

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