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Exercise 4-5 Mears Company

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E4-5 The adjustments columns of the worksheet for Mears Company are shown below.


Accounts titles Debit Credit
Accounts receivables 600
Prepaid insurance 400
Accumulated depreciation - equipment 900
Salaries payable 500
Service revenue 600
Salaries and wages expense 500
Insurance expense 400
Depreciation expense 900
   2,400  2,400
Instructions
(a) Prepare the adjusting entries.
(b) Assuming the adjusted trial balance amount for each account is normal, indicate the financial
statement column to which each balance should be extended.

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