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How to find the missing amount in the worksheet and adjust the entry? AE4-6
(Service Revenue) (Prepaid Insurance) (96,850-88,580) (26,250 -20,518)=14,002
than divide 14,002 by six( number of blank spaces)= 2,333.67 round it to 2,334 add 2,334 to each missing link. Obviously that's not right and I'm having difficult time solving this problem. *AE4-6 Incorrect. Selected work sheet data for Nicholson Company are presented below. Instructions - (a) Fill in the missing amounts. (If answer is zero, please enter 0. Do not leave any fields blank.) Account Titles Trial Balance Adjusted Trial Balance Dr. Cr. Dr. Cr. Accounts Receivable ? 34,273 Prepaid Insurance 26,250 20,518 Supplies 7,070 ? Accumulated Depreciation 12,959 ? Salaries Payable ? 4,073 Service Revenue 88,580 96,850 Insurance Expense ? Depreciation Expense 10,030 Supplies Expense 4,510 Salaries Expense 48,380 (b) Prepare the adjusting entries that were made. Description/Account Debit Credit Accounts Receivable Service Revenue (To record service revenue on account.) Insurance Expense Prepaid Insurance (To record expired insurance.) Supplies Expense 4,510 Supplies (To record supplies used.) Depreciation Expense 10,030 Accumulated Depreciation (To record depreciation.) Salaries Expense Salaries Payable (To record accrued salaries.) |
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