Given the Trial Balance and Adjustment Columns of the Worksheet

question 91

Essay

Given the trial balance and adjustment columns of the worksheet, complete the adjusted trial balance column for the company.
Trial Adjusted
Balance Adjustments Trial Balance

	Trial				Adjusted
	Balance		Adjustments		Trial Balance
Accounts	DR	CR	DR	CR	DR	CR
Cash	750
Accts. Rec.	400
Supplies	250			175
Prepaid Ins.	400			100
Equipment	7,000
Equipment		900
Capital		6,000
Fees Earned		2,000
Wages Exp.	100		300
Depreciation Expense			250
Accumulated Depreciation				250
Supplies Expense			175
Insurance Expense			100
Wages Payable				300
Total	8,900	8,900	825	825

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Definitions:

Monopoly Power

is the ability of a single company or entity to control a significant portion of the market for a particular product or service, limiting competition.

Antitrust Laws

Regulations designed to protect trade and commerce from unfair practices, such as monopolies and cartels.

Cartel

An association of independent businesses organized to control production, pricing, and marketing of goods to minimize competition.

U.S. Antitrust Laws

Laws enacted by the U.S. to protect consumers from predatory business practices by ensuring that fair competition exists in an open-market economy.