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Exercises 145 21 CHAPTER 5 Exercises 5.1 Worksheet for a service firm Complete...

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Exercises 145 21 CHAPTER 5 Exercises 5.1 Worksheet for a service firm Complete the worksheet below after making adjusting entries for the following data: Insurance expired, $50 Depreciation, $2,000 Earned $250 of unearned service revenue Accrued salaries, $100 @Accrued interest expense on the note payable, $20 Service revenue earned but not received, $150 Supplies on hand at year's end, $1,500 Grebe Corporation Worksheet For the Year Ended December 31, 20x1 Trial Balance Adjustments Income Statement Account Statement of Financial Position Dr. Cr. Dr. Cr. Dr. Cr. 2,200 Dr. Cr. Cash 12,900 Accounts Receivable 8,000 Prepaid Insurance 750 Supplies Equipment 52,700 Accumulated Depreciation 10,000 Notes Payable 2,000 Unearned Service Revenue 1,750 Share Capital 40,000 Retained Earnings 20,000 Service Revenue 5,000 Salaries Expense 1,000 Utilities Expense 1,200 78,750 78,750

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