Peppertree Rentals, Inc.'s, unadjusted and adjusted trial balances at June 30, 2016, follow: Requirements 1. Make the
Question:
Requirements
1. Make the adjusting entries that account for the differences between the two trial balances.
2. Compute Peppertree Rentals's total assets, total liabilities, net income, and total equity.
Transcribed Image Text:
Peppertree Rentals, Inc. Trial Balance Worksheet June 30, 2016 Trial Balance Adjusted Trial Balance Account Debit Credit Debit Credit 8300 Accounts receivable Interest receivable Note receivable Supplies Prepaid insurance 8300 6,880 200 4,100 900 6,300 4,100 1,500 2,800 8,000 1400 68,000 $ 8,500 7200 $10,000 7.200 1,190 1,900 21,000 44,500 Accumulated depreciation- building Accounts payable Wages payable Unearned rental revenue Common stock Retained earnings Dividends Rental revenue Interest revenue 2,200 21,000 44,500 3,300 3,300 12,500133 900 1,100 Depreciation expense-building 1,500 Supplies expense Utilities expense Wage expense Property tax expense nsurance expense Total 600 400 2,690 600 1,400 400 1,500 600
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Req 1 Journal DATE ACCOUNT TITLES AND EXPLANATION DEBIT CREDIT June 30 Accounts Receivable 6880 63...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
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