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Question: Completing a Worksheet Starting with an Unadjusted Trial Balance (Chapter Supplement) Fairbanks Company is completing its annual accounting information processing cycle at December 31, 2011. The following worksheet has been started.

Data not yet recorded for 2011:

a. Half of Prepaid Insurance was used in 2011.

b. Depreciation expense, $8

c. Wages earned by employees; not yet paid, $1.

d. Revenue collected by Fairbanks; not yet earned, $6.

e. Interest expense incurred; not yet paid, $3.

Required: Complete the worksheet. Set up additional column headings for Adjusting Entries, Adjusted Trial Balance, Income Statement, Owner's Equity, and Balance Sheet.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M93077767

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