From the following trial balance and adjustment data, complete a worksheet for J. Revere as of December
Question:
From the following trial balance and adjustment data, complete a worksheet for J. Revere as of December 31, 2020:a.?Depreciation expense, store equipment, $6.00b.?Insurance expired, $3.00c.?Store supplies on hand, $5.00d.?Wages owed but not paid, $8.00 (they are an expense in the old year)
J. REVERE TRIAL BALANCE DECEMBER 31, 2020 Dr. Cr. 400 Cash 1000 Accounts Receivable Prepaid Insurance Store Supplies Store Equipment Accumulated Depreciation, Store Equipment 700 10 00 2000 600 1200 600 Accounts Payable J. Revere, Capital J. Revere, Withdrawals 300 46 00 Revenue from Clients 900 Rent Expense Wage Expense 700 7000 7000
Step by Step Answer:
Cash Accounts Receivable Prepaid Insurance Store Supplies Store Equipment Acc Depn S...View the full answer
College Accounting A Practical Approach
ISBN: 978-0134166698
13th Canadian edition
Authors: Jeffrey Slater, Debra Good
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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
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