Prepare the adjusting entries. 1 answer below »

The adjustments columns of the worksheet for Toeaina Company are shown below.

Adjustments

Account Titles

Debit

Credit

Accounts Receivable

1,100

Prepaid Insurance

300

Accumulated Depreciation—Equipment

900

Salaries and Wages Payable

500

Service Revenue

1,100

Salaries and Wages Expense

500

Insurance Expense

300

Depreciation Expense

900

2,800

2,800

Adjustments

Instructions

(a) Prepare the adjusting entries.

(b) Assuming the adjusted trial balance amount for each account is normal, indicate the financial statement column to which each balance should be extended.