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ACC121 Enter the trial balance amounts in the Trial Balance columns of a work sheet

REQUIRED1. Enter the trial balance amounts in the Trial Balance columns of a work sheet and complete thework sheet using the information that follows.a. Expired insurance, $3,060b. Inventory of unused delivery supplies, $1,430c. Inventory of unused office supplies, $186d. Estimated depreciation on the building, $14,400 e. Estimated depreciation on the trucks, $15,450f. Estimated depreciation on the office equipment, $2,700g. The company credits the lockbox fees of customers who pay in advance to the UnearnedLockbox Fees account. Of the amount credited to this account during the year, $5,630 had beenearned by August 31.h. Lockbox fees earned but unrecorded and uncollected at the end of the accounting period, $816i. Accrued but unpaid truck drivers’ wages at the end of the year, $1,9202. Prepare an income statement, a statement of retained earnings, and a balance sheet for thecompany.3. Prepare adjusting and closing entries from the work sheet.4. Can the work sheet be used as a substitute for the financial statements? Explain your answer.

REQUIRED1. Enter the trial balance amounts in the Trial Balance columns of a work sheet and complete thework sheet using the information that follows.a. Expired insurance, $3,060b. Inventory of unused delivery supplies, $1,430c. Inventory of unused office supplies, $186d. Estimated depreciation on the building, $14,400 e. Estimated depreciation on the trucks, $15,450f. Estimated depreciation on the office equipment, $2,700g. The company credits the lockbox fees of customers who pay in advance to the UnearnedLockbox Fees account. Of the amount credited to this account during the year, $5,630 had beenearned by August 31.h. Lockbox fees earned but unrecorded and uncollected at the end of the accounting period, $816i. Accrued but unpaid truck drivers’ wages at the end of the year, $1,9202. Prepare an income statement, a statement of retained earnings, and a balance sheet for thecompany.3. Prepare adjusting and closing entries from the work sheet.4. Can the work sheet be used as a substitute for the financial statements? Explain your answer.

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REQUIRED1. Enter the trial balance amounts in the Trial Balance columns of a work sheet and complete thework sheet using the information that follows.a. Expired insurance, $3,060b. Inventory of unused delivery supplies, $1,430c. Inventory of unused office supplies, $186d. Estimated depreciation on the building, $14,400 e. Estimated depreciation on the trucks, $15,450f. Estimated depreciation on the office equipment, $2,700g. The company credits the lockbox fees of customers who pay in advance to the UnearnedLockbox Fees account. Of the amount credited to this account during the year, $5,630 had beenearned by August 31.h. Lockbox fees earned but unrecorded and uncollected at the end of the accounting period, $816i. Accrued but unpaid truck drivers’ wages at the end of the year, $1,9202. Prepare an income statement, a statement of retained earnings, and a balance sheet for thecompany.3. Prepare adjusting and closing entries from the work sheet.4. Can the work sheet be used as a substitute for the financial statements? Explain your answer.

REQUIRED1. Enter the trial balance amounts in the Trial Balance columns of a work sheet and complete thework sheet using the information that follows.a. Expired insurance, $3,060b. Inventory of unused delivery supplies, $1,430c. Inventory of unused office supplies, $186d. Estimated depreciation on the building, $14,400 e. Estimated depreciation on the trucks, $15,450f. Estimated depreciation on the office equipment, $2,700g. The company credits the lockbox fees of customers who pay in advance to the UnearnedLockbox Fees account. Of the amount credited to this account during the year, $5,630 had beenearned by August 31.h. Lockbox fees earned but unrecorded and uncollected at the end of the accounting period, $816i. Accrued but unpaid truck drivers’ wages at the end of the year, $1,9202. Prepare an income statement, a statement of retained earnings, and a balance sheet for thecompany.3. Prepare adjusting and closing entries from the work sheet.4. Can the work sheet be used as a substitute for the financial statements? Explain your answer.