Record the amounts in trial balance columns of worksheet

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Reference no: EM133928481

Problem

The trial balance of Morgan's Insurance Agency as of September 30, after the firm has completed its first month of operations, is as follows: Details Trial Balance of Morgan's Insurance Agency as of September 30, 20-- shows 3 columns - Account Name, Debit, and Credit. All values are in dollars. The items listed in the Debit column of the Trial Balance are: Cash: 3,337 Accounts Receivable: 1,428 Supplies: 487 Prepaid Insurance: 775 Office Equipment: 5,146 S. Morgan, Drawing: 1,000 Rent Expense: 885 Travel Expense: 388 Utilities Expense: 227 Miscellaneous Expense: 65 (followed by single underscore) The total of the Debit column (double underlined) is shown as 13,738. The items listed in the Credit column of the Trial Balance are: Accumulated Depreciation, Equipment: 1,556 Accounts Payable: 1,367 S. Morgan, Capital: 9,528 Commissions earned: 2,843 (followed by single underscore) The total of the Credit Column (double underlined) is shown as 13,738. Required Record the amounts in the Trial Balance columns of the work sheet. Complete the work sheet by making the following adjustments and lettering each adjustment: Expired or used-up insurance, $300. Get the instant assignment help. Depreciation expense on office equipment, $600. Supplies used, $150. Check Figure Net Income, $228.

Reference no: EM133928481

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