Driftwood Apartments, Inc.s unadjusted and adjusted trial balances at April 30, 2014, follow: Requirements 1. Make the
Question:
Driftwood Apartments, Inc.’s unadjusted and adjusted trial balances at April 30, 2014, follow:
Requirements
1. Make the adjusting entries that account for the differences between the two trial balances.
2. Compute Driftwood Apartment’s total assets, total liabilities, net income, and totalequity.
A1 Driftwood Apartments, Inc. Trlal Balance Worksheet April 30, 2014 Trial Balance Debi Adjusted Trial Balance Account t Credit t DebltCredit $7,900 $7900 6,800 Cash 5 Accounts receivable 7,150 400 5,300 800 900 Interest receivable 7 Note receivable 5,300 1,300 2,400 93,000 Supplies Prepaid insurance 1 Building 93,000 8,800 6,300 $10,200 6,300 1,330 950 34,000 56,150 Accumulated depreciation, building 1 Accounts payable Wages payable 1 Unearned rental revenue 5 Common stock 2,000 34,000 6,150 Retained earnings 1 Dividends 3,200 3,200 Rental revenue 19 Interest revenue 20 Depreclation expense 21 Supplies expense 22 Utilitles expense 2 Wage expense 15,000 300 16,400 700 1400 500 700 2,630 650 1500 700 1,300 650 Property tax expense 2 Insurance expense Total $122,550 $122,550 $126,030 $126,030
Step by Step Answer:
Req 1 Journal DATE ACCOUNT TITLES AND EXPLANATION DEBIT CREDIT Apr 30 Accounts Receivable 7150 6800 ...View the full answer
Financial Accounting
ISBN: 978-0133427530
10th edition
Authors: Walter Harrison, Charles Horngren, William Thomas
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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