Adjusted trial balance construction

An alphabetical list of open accounts for Geronimo, Inc. as of and for the month ended January 31, 2023, is given on the following page, with normal balances given for each account. You are to re-construct this list into an adjusted trial balance on the second page following. Cash is given as an example and is the first of the current assets.

required:

Accounts are to be shown on the adjusted trial balance in the following order:

Current assets

Long term investments (if any)

Property, plant and equipment

Intangible assets (if any)

Current liabilities

Long term debt

Equity accounts

Revenues

Expenses

Other revenues and gains

Other expenses and losses

Income taxes

  
 

Transcribed Image Text:

Adjusted trial balance construction An alphabetical list of open accounts for Geronimo, Inc. as of and for the month ended January 31, 2023, is given on the following page, with normal balances given for each account. You are to re-construct this list into an adjusted trial balance on the second page following. Cash is given as an example and is the first of the current assets. Accounts are to be shown on the adjusted trial balance in the following order: -Current assets Long term investments (if any) Property, plant and equipment Intangible assets (if any Current liabilities- Long term debt - L Equity accounts -Revenues -Expenses Other revenues and gains - -0 Other expenses and losses Income taxes Adjusted trial balance construction An alphabetical list of open accounts for Geronimo, Inc. as of and for the month ended January 31, 2023, is given on the following page, with normal balances given for each account. You are to re-construct this list into an adjusted trial balance on the second page following. Cash is given as an example and is the first of the current assets. Accounts are to be shown on the adjusted trial balance in the following order: -Current assets Long term investments (if any) Property, plant and equipment Intangible assets (if any Current liabilities- Long term debt - L Equity accounts -Revenues -Expenses Other revenues and gains - -0 Other expenses and losses Income taxes

Answer rating: 100% (QA)

To construct an adjusted trial balance we will list accounts in the order given along with their balances from the alphabetical list of open accounts ensuring that we place each balance in the appropr... View the full answer