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    This document shows an unadjusted trial balance, adjustments, adjusted trial balance, income statement, and statement of owner's equity for W. Westcott's business. The unadjusted trial balance lists account balances before adjustments. Adjustments are then made and reflected in the adjusted trial balance. The income statement and statement of owner's equity are completed using the information from the adjusted trial balance.

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    chapter 4

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    This document shows an unadjusted trial balance, adjustments, adjusted trial balance, income statement, and statement of owner's equity for W. Westcott's business. The unadjusted trial balance lists account balances before adjustments. Adjustments are then made and reflected in the adjusted trial balance. The income statement and statement of owner's equity are completed using the information from the adjusted trial balance.

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    8 views1 page

    Chapter 4

    Uploaded by

    Ngan Phuong Nguyen
    This document shows an unadjusted trial balance, adjustments, adjusted trial balance, income statement, and statement of owner's equity for W. Westcott's business. The unadjusted trial balance lists account balances before adjustments. Adjustments are then made and reflected in the adjusted trial balance. The income statement and statement of owner's equity are completed using the information from the adjusted trial balance.

    Copyright:

    © All Rights Reserved
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    of 1

    Exercise 4.

    4:
    Balance sheet and
    Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income statement Statement of Owner's
    equity
    Account title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
    Cash 21 12 33 33
    Accounts Receivable 12 12
    Equipment 39 3 36 36
    Accumulated
    Depreciation—Equip 15 3 12 12
    Supplies 24 15 39 39
    Prepaid Insurance 18 15 3 3
    Account payable 6 6 12 12
    Unearned Revenue 12 12 42
    W. Westcott, Capital 42 42 6
    W. Westcott,
    Withdrawals 6 6
    Revenue 75 12 87 87
    Salaries Expense 18 6 24 24
    Utilities Expense 12 12 12

    Total 150 150 48 48 153 153 36 87 117 66


    Net income 51 51
    Total 87 87 117 117

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