Spreadsheet or Worksheet (WS) Example

1. Spreadsheet or Worksheet (WS) Example • As previously advised, please “view” this exercise in PowerPoint mode so that you can “see” the solution “fly-in” and can learn the PROCEDURE of the WS • At the bottom of the WS, you will see the very abbreviated FACTS you will need for the Adustments --- PLEASE consider those & what AJE you would make

2. FACTS • OWE $350 Wages at EOM --- must accrue Salary Expense and Salary Payable • Supplies were $??? Amount and some were used this month and we have $50 left • Some of our Prepaid Insurance asset was USED up this month – must accrue Insurance Expense and reduce our Prepaid ASSET • Our office equipment went down in value and must be depreciated using Depreciation Expense and our Contra ASSET --- A/D

3. WS “Reminders” • The first 2 columns are the Trial Balance (TB) • The next 2 columns are where the AJE amounts are entered (may need to add ACCOUNTS as needed at the bottom of WS) • The next 2 columns are the ADDED or SUBTRACTED (ADJUSTED) totals --- each row of the TB --- MUST be moved here (even if NO adjustment was made) • Then “deal” or extend the Adjusted TB amounts to the IS or Balance Sheet columns as APPROPRIATE

4. 1000 1000 300 300 150 50 50 500 300 500 3000 3000 400 400 400 100 100 350 350 350 500 500 2000 2000 500 500 3900 3900 1050 350 1050 400 400 400 300 300 300 150 150 150 1900 3900 5350 7250 7250 3350 2000 2000 3900 5350 3900 5350 AJEs: Wages owed $350Supplies on hand $50 Prepaid Rent expired of $300 Depreciation of $400