answered: On January 31, 20X1, the general ledger of Johnson Company s
On January 31, 20X1, the general ledger of Johnson Company showed the following account balances.
Accounts
Cash 62,600
Accounts receivable 22,100
Supplies 8,600
Prepaid insurance 7,800
Equipment 91,100
Accumulated depreciationEquipment 0
Accounts payable 16,300
Elicia Johnson, Capital 81,550
Fees income 115,000
Rent expense 10,200
Salaries expense 10,450
Supplies expense 0
Insurance expense 0
Depreciation expenseEquipment 0
Additional information:
Supplies used during January totaled $5,500.
Expired insurance totaled $1,950.
Depreciation expense for the month was $1,725.
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.
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