The June 30, 2017, unadjusted trial balance for Trenton Consulting after its first year of operations follows:

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, 2017. 

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, 2017, balance sheet.
Analysis Component: What effect does a loss have on the accounting equation?

Transcribed Image Text:

Trenton Consulting Unadjusted Trial Balance June 30, 2017 Unadjusted Trial Balance Cr. Account Dr. Cash 680 2,900 Accounts receivable Prepaid rent 3,660 9,600 Equipment Accounts payable 1,730 Toni Trenton, capital 26,650 Toni Trenton, withdrawals 6,880 30,200 Consulting revenue 24,920 Wages expense Insurance expense 1,620 Rent expense 8,320 58,580 Totals 58,580