The June 30, 2020, unadjusted trial balance for Trenton Consulting after its first year of operations follows:

Question:

The June 30, 2020, unadjusted trial balance for Trenton Consulting after its first year of operations follows:

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Required

1. Enter the unadjusted trial balance onto a work sheet.

2. Using the following additional information, enter the adjustments onto the work sheet:

a. Annual depreciation on the equipment is $1,500.

b. The balance in the Prepaid Rent account is for six months of rent commencing March 1, 2020.

c. Unpaid and unrecorded wages at June 30 totalled $3,200.

d. Accrued revenues at June 30 totalled $4,100.

3. Complete the work sheet.

4. Calculate the balance in the capital account as it would appear on the June 30, 2020, balance sheet.

Analysis Component: What effect does a loss have on the accounting equation?

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Related Book For  book-img-for-question

Fundamental Accounting Principles Volume I

ISBN: 978-1260305821

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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