Problem 5.1A (Algo) Completing the worksheet. LO 5-2,5-3 The trial balance of Ortiz Company as of January 31, 20X1, afte

[answerhappygod]

Problem 5 1a Algo Completing The Worksheet Lo 5 2 5 3 The Trial Balance Of Ortiz Company As Of January 31 20x1 Afte 1 (99.28 KiB) Viewed 126 times

Problem 5.1A (Algo) Completing the worksheet. LO 5-2,5-3 The trial balance of Ortiz Company as of January 31, 20X1, after the company completed the first month of operations, is shown in the partial worksheet below. Required: Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $7,800; expired insurance, $7,300; depreciation expense on equipment for the period, $3,400 Analyze: How does the insurance adjustment affect Prepaid Insurance? Complete this question by entering your answers in the tabs below. Partial Worksheet Analyze Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $7,800; expired insurance, $7,300; depreciation expense on equipment for the period, $3,400. ORTIZ COMPANY Worksheet (Partial) Month Ended January 31, 20x1 Trial Balance Adjustments Adjusted Trial Balance Income Statement Account Name Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash $ 103,200 Accounts receivable 20,000 Supplies 37,600 Prepaid insurance 55,200 Equipment 107,200 Accumulated depreciation Equipment Accounts payable 24.000 Frank Ortiz, Capital 251,200 Frank Ortiz, Drawing 13,600 Fees income 94,400 Supplies expense Insurance expense Salaries expense 30,400 Depreciation expense-Equipment Utilities expense 2,400 Sub-totals $ 369,600 $ 369,600 $ $ 0 0 $ $ $ 0 $ 0 $ $ 0 $ $ 0 0 $ 0 이s $ 0 Totals $ $ 0 0 $ $ 0 0 $ $ 0 0 $ $ 0