Principles of Accounting Practice Set 4
The worksheet for Gibler Rental Company appears below. Using the adjustment data below, complete the worksheet. Adjustment data: (a) Prepaid rent expired during August, $3. (b) Depreciation expense on equipment for the month of August, $8. (c) Supplies on hand on August 31 amounted to $6. (d) Salaries and wages expense incurred at August 31 but not yet paid amounted to $10. ANSWER: Ex. 190 GIBLER RENTAL COMPANY Worksheet For the Month Ended August 31 , 2016 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Titles Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 20 Accounts Receivable 12 Prepaid Rent 8 Supplies 10 Equipment 50 Accum . Depreciation — Equipment 10 Accounts Payable 20 Owner 's Capital 29 Owner 's Drawings 2 Rent Revenue 73 Depreciation Expense 6 Rent Expense 4 Salaries and Wages Expense 20 Totals 132 132 Supplies Expense Salaries Payable Totals Net Income Totals