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The adjustments columns of the worksheet for Sheridan Company are shown below. Account Titles Accounts Receivable Prepaid Insurance Accumulated Depreciation-Equipment Salaries and Wages Payable Service Revenue Salaries and Wages Expense Insurance Expense Depreciation Expense (a) Account Titles and Explanation Adjustments (To record service revenue on account) Debit Credit 1,160 460 470 900 2,990 470 900 460 1,160 Prepare the adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 2,990 Debit Credit

The adjustments columns of the worksheet for Sheridan Company are shown below. Account Titles Accounts Receivable Prepaid Insurance Accumulated Depreciation-Equipment Salaries and Wages Payable Service Revenue Salaries and Wages Expense Insurance Expense Depreciation Expense (a) Account Titles and Explanation Adjustments (To record service revenue on account) Debit Credit 1,160 460 470 900 2,990 470 900 460 1,160 Prepare the adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 2,990 Debit Credit

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 4E: Indicate the work sheet columns (Income Statement Debit, Income Statement Credit, Balance Sheet...
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The adjustments columns of the worksheet for Sheridan Company are shown below. Account Titles Accounts Receivable Prepaid Insurance Accumulated Depreciation-Equipment Salaries and Wages Payable Service Revenue Salaries and Wages Expense Insurance Expense Depreciation Expense (a) Account Titles and Explanation (To record service revenue on account) (To record expired insurance) (To record depreciation) Adjustments (To record accrued salaries) Debit 1,160 460 470 900 2,990 Credit 470 Prepare the adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 900 460 1,160 2,990 Debit 1000 11 Credit 1000
Transcribed Image Text:The adjustments columns of the worksheet for Sheridan Company are shown below. Account Titles Accounts Receivable Prepaid Insurance Accumulated Depreciation-Equipment Salaries and Wages Payable Service Revenue Salaries and Wages Expense Insurance Expense Depreciation Expense (a) Account Titles and Explanation (To record service revenue on account) (To record expired insurance) (To record depreciation) Adjustments (To record accrued salaries) Debit 1,160 460 470 900 2,990 Credit 470 Prepare the adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 900 460 1,160 2,990 Debit 1000 11 Credit 1000
Assuming the adjusted trial balance amount for each account is normal, indicate with an "X" the financial statement column to which each balance should be extended on the worksheet. Account Titles Accounts Receivable Prepaid Insurance Accumulated Depreciation-Equipment Salaries and Wages Payable Service Revenue Salaries and Wages Expense Insurance Expense Depreciation Expense Income Statement Debit I Credit Balance Sheet Debit > Credit
Transcribed Image Text:Assuming the adjusted trial balance amount for each account is normal, indicate with an "X" the financial statement column to which each balance should be extended on the worksheet. Account Titles Accounts Receivable Prepaid Insurance Accumulated Depreciation-Equipment Salaries and Wages Payable Service Revenue Salaries and Wages Expense Insurance Expense Depreciation Expense Income Statement Debit I Credit Balance Sheet Debit > Credit
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