The trial balance of Airbourne Travel Inc. on March 31, 2020, is as follows: Additional information: 1.
Question:
The trial balance of Airbourne Travel Inc. on March 31, 2020, is as follows:
Additional information:
1. A physical count reveals only $520 of supplies on hand.
2. Equipment is depreciated at a rate of $100 per month.
3. Unearned revenue amounted to $100 on March 31.
4. Accrued salaries are $850.
Instructions
Enter the trial balance on a work sheet and complete the work sheet, assuming that the adjustments relate only to the month of March.
Airbourne Travel Inc. Trial Balance March 31, 2020 Debit Credit $ 1,800 Cash Accounts receivable 2,600 Supplies Equipment Accumulated depreciation-equipment Accounts payable Unearned revenue 600 6,000 400 1,100 500 Common shares 6,400 Retained earnings Sales revenue Salaries and wages expense Miscellaneous expense 600 2,600 500 100 $11,600 $11,600
Step by Step Answer:
Airbourne Travel Inc Work Sheet March 31 2020 Assets Cash 1800 Ac...View the full answer
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
Related Video
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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