Business, 20.02.2020 03:36 StudentLife336

On January 31, 2019, the general ledger of Palmer Company showed the following account balances.

Cash

61,300

Accounts Receivable

20,800

Supplies

7,300

Prepaid Insurance

6,500

Equipment

89,800

Accum. Depr.-Equip.

0

Accounts Payable

15,000

Sadie Palmer, Capital

80,250

Fees Income

108,500

Depreciation Exp.-Equip.

0

Insurance Expense

0

Rent Expense

8,900

Salaries Expense

9,150

Supplies Expense

0

Additional information:

a. Supplies used during January totaled $4,850.

b. Expired insurance totaled $1,625.

c. Depreciation expense for the month was $1,400.

Complete the worksheet through the Adjusted Trial Balance section. Assume that every account has the normal debit or credit balance. The worksheet covers the month of January.

Answers: 1

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On January 31, 2019, the general ledger of Palmer Company showed the following account balances.

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