Howarth Company?s reporting year-end is December 31. Below are the unadjusted and adjusted trial balances for December
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Howarth Company?s reporting year-end is December 31. Below are the unadjusted and adjusted trial balances for December 31, 2021.
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Unadjusted Adjusted Account Title Debits Credits Debits Credits 50,000 35,000 Cash 50,000 Accounts receivable 35,000 Prepaid rent Supplies 2,000 1,200 1,500 800 Inventory 60,000 60,000 Notes receivable 30,000 30,000 1,500 Interest receivable -0- Office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable 45,000 45,000 15,000 21,500 34,000 34,000 -0- 6,200 50,000 50,000 Interest payable -0- 2,500 Deferred rent revenue 2,000 -0- 46,000 Common stock 46,000 Retained earnings 20,000 20,000 244,000 6,000 Sales revenue 244,000 Rent revenue 4,000 Interest revenue -0- 1,500 Cost of goods sold Salaries and wages expense 126,000 126,000 45,000 51,200 11,000 Rent expense 11,800 Depreciation expense Supplies expense -0- 6,500 1,800 1,100 Interest expense 5,400 7,900 Advertising expense 3,000 3,000 415,000 415,000 431,700 Totals 431,700
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Rent expense 800 Prepaid rent 800 Supplies expense 700 Supplies 700 Interest re...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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