Peppertree Apartments, Inc.'s, unadjusted and adjusted trial balances at April 30, 20X1, is given on the next page.

Required
1. Make the adjusting entries that account for the differences between the two trial balances.
2. Compute Peppertree's total assets, total liabilities, total equity, and net income.

Transcribed Image Text:

Peppertree Apartments, Inc. Adjusted Trial Balance April 30,20X1 Trial Balance Adjusted Trial Balance Account Title Credit Credit 3 Note receivable 4 4 6 66,400 Accumulated depreciation 18,200 6,900 able 18,000 18,000 4 4 3,600 3 2,000 1,700 2,200 e ex 1,600 Depreciation expense 300 200 94,100 94,100 97,500 97,500