Accounts Debit Credit Cash 5,450 Accounts Receivable 16,200 Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Salaries and Wages Payable Unearned Service Revenue 8,250 16,000 40,500 22,500 9,150 3,600 5,250 Owners Capital Owners Drawings 19,500 10,500 Service Revenue 91,500 Advertising Exepense Salaries and Wages Expe 12,600 42,000 151,500 Total 151,500 The following adjustments need to be made: 1. The interest rate on the Note Payable is 12% per annnum. 2. Monthly depreciation on equipment is 8400. 3. Supplies on hand at the end of the month is 2250. 4. 1500 of unearned service revenue remains unearned at the end of the month. 5. Prepaid insurance is purchased in March 1, 2020. it is for 12 months. YOUR TASK: Prepare a complete worksheet for the month of March, 2020.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Legal Aid Inc.
Trial Balance
31-Mar-20
Accounts
Debit
Credit
Cash
5,450
Accounts Receivable
16,200
Supplies
Prepaid Insurance
Еquipment
Notes Payable
Accounts Payable
Salaries and Wages Payable
8,250
16,000
40,500
22,500
9,150
3,600
Unearned Service Revenue
5,250
Owners Capital
Owners Drawings
19,500
10,500
Service Revenue
91,500
Advertising Exepense
Salaries and Wages Expe
Total
12,600
42,000
151.500
151.500
The following adjustments need to be made:
1. The interest rate on the Note Payable is 12% per annnum.
2. Monthly depreciation on equipment is 8400.
3. Supplies on hand at the end of the month is 2250.
4. 1500 of unearned service revenue remains unearned at the end
of the month.
5. Prepaid insurance is purchased in March 1, 2020. It is for 12
months.
YOUR TASK: Prepare a complete worksheet for the month of March,
2020.
Transcribed Image Text:Legal Aid Inc. Trial Balance 31-Mar-20 Accounts Debit Credit Cash 5,450 Accounts Receivable 16,200 Supplies Prepaid Insurance Еquipment Notes Payable Accounts Payable Salaries and Wages Payable 8,250 16,000 40,500 22,500 9,150 3,600 Unearned Service Revenue 5,250 Owners Capital Owners Drawings 19,500 10,500 Service Revenue 91,500 Advertising Exepense Salaries and Wages Expe Total 12,600 42,000 151.500 151.500 The following adjustments need to be made: 1. The interest rate on the Note Payable is 12% per annnum. 2. Monthly depreciation on equipment is 8400. 3. Supplies on hand at the end of the month is 2250. 4. 1500 of unearned service revenue remains unearned at the end of the month. 5. Prepaid insurance is purchased in March 1, 2020. It is for 12 months. YOUR TASK: Prepare a complete worksheet for the month of March, 2020.
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