Prepare an adjusted trial balance from the following account information, considering the adjustment data provided (assume accounts
Question:
Prepare an adjusted trial balance from the following account information, considering the adjustment data provided (assume accounts have normal balances).
Adjustments needed:
Salaries due to administrative employees, but unpaid at period end, $2,000
Insurance still unexpired at end of the period, $12,000
Accounts payable Accounts receivable Administrative expense Cash Common stock Prepaid insurance Service revenue $11,700 17,100 54,800 44,800 30,000 16,000 91,000
Step by Step Answer:
An adjusted trial balances is as follows i Initial Trial Balance 180000 ii Adjustment for salaries d...View the full answer
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Related Video
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
Students also viewed these Business questions
-
Prepare an adjusted trial balance from the following account information, and also considering the adjustment data provided (assume accounts have normal balances). Equipment was recently purchased,...
-
Prepare an adjusted trial balance from the following account information, and also considering the adjustment data provided (assume accounts have normal balances). Adjustments needed: Accrued...
-
QUESTION 11 At the end of the 2021 year, the accounting staff at ABC Inc. (ABC) have the following unadjusted trial balance as at December 31, 2021. ABC Inc. December 31, 2021 Trial Balance Cash...
-
In terms of Federal tax consequences, why are lifetime transfers to charity preferable to testamentary transfers?
-
Why is it difficult to classify industries?
-
In a wild strain of tomato plants, the phenotypic variance for tomato weight is 3.2 g2. In another strain of highly inbred tomatoes raised under the same environmental conditions, the phenotypic...
-
Consider the periodic signal \[f(t)=\left\{\begin{array}{lr}\cos (t)+D, & -1 \leq t \leq 0 \\\sin \left(t^{6} ight) / t^{3}, & 0 \leq t\leq 2\end{array} ight.\] where \(D=\sin \left(2^{6} ight) /...
-
John Smith worked in the stockyard of a large building supply company. One day he unexpectedly left for California, never to return. His foreman seized the opportunity to continue to submit time...
-
Two 4.0 kg masses are 3.0 m apart on a frictionless table. Each has 1.0 C of charge. Part A What is the magnitude of the electric force on one of the masses? Express your answer in newtons. F = VO...
-
For the differential manometer shown in Fig. 3.27, calculate the pressure difference between points A and B. The specific gravity of the oil is 0.85. 10 in 32 in Oil Water 9 in el
-
Determine the amount of cash expended for Insurance Premiums during the month, based on the entries in the following accounts (assume 0 beginning balances). Account Insurance Expense Balance Prepaid...
-
Prepare an adjusted trial balance from the following account information, considering the adjustment data provided (assume accounts have normal balances). Adjustments needed: Physical count of...
-
What are the three levels of decision making that business intelligence supports?
-
If \(A\) and \(B\) are independent events with \(P(A)=\frac{2}{3}\) and \(P(B)=\frac{3}{5}\), what is \(P(\overline{A \cup B}\) ?
-
This experiment has two mutually exclusive events, \(A\) and \(\bar{A}\), that form a partition of the sample space \(S\). The number of elements in each set is shown in each region. Find the...
-
All the cows in a certain herd are white-faced. The probability that a white-faced calf will be born by mating with a certain bull is 0.9 . Suppose four cows are bred to the same bull. Find the...
-
A single card is drawn from a standard deck of cards. What is the probability that it is an ace, if you know that one ace has already been removed from the deck?
-
Suppose the National League team has a probability of \(\frac{3}{5}\) of winning the World Series and the American League team has a probability of \(\frac{2}{5}\). The series is over as soon as one...
-
Explain how a profit made by a lessee on a sale and leaseback transaction is to be accounted for.
-
2. In the circuit given in Figure 2, i,(t) = 5.67cos(5t)A and v (t) = 70.71 cos(5t 60) V a) Find the equivalent load impedance. State whether the load is inductive or capacitive. b) Calculate the...
-
Identify the type of responsibility center (revenue center, cost center, profit center, or investment center) for each of the following situations. A. The accounting department for Tubelite Inc. B....
-
Is there a way to prevent managers from focusing on accounting measures as performance measures?
-
When managerial accountants design an evaluation system that is based on criteria for which a manager is responsible, and it is structured to encourage managers to make decisions that will meet the...
-
1. Cocaine is commonly called as :- (1) Smack (2) coke (3) crack (4) both 2 & 3 2. The hepatitis B vaccine has been produced on alarge scale through :- (1) Recombinant DNA technology using claviceps...
-
185. The figure below shows steps A, B & C of replication of retrovirus. Select the option giving correct identification Retrovirus Viral RNA core Virus infects Viral protein normal cell coat Plasma...
-
1. Genetic defect in which adenosine deaminase deficiency occurs :- (1) Rhematoid arthritis (2) SCID (3) AIDS (4) Cystis fibrosis 2. Common cold is caused by a :- (1) Bacteriam (2) Protozoan (3)...
Study smarter with the SolutionInn App