Prepare an adjusted trial balance from the adjusted account balances; solve for the one missing account balance:
Question:
Prepare an adjusted trial balance from the adjusted account balances; solve for the one missing account balance: Dividends (assume accounts have normal balances). Equipment was recently purchased, so there is neither depreciation expense nor accumulated depreciation.
Accounts payable Accounts receivable Cash Common stock Dividends Equipment Prepaid insurance Land Notes payable Retained earnings Insurance expense Service revenue Supplies Salaries expense $ 9,000 16,032 20,450 24,000 ? 29,000 9,444 34,000 48,000 31,315 12,689 82,500 9,700 51,500
Step by Step Answer:
PA 14 Adjusted Particulars Debit Credit Cash 3220000 Accounts Receivable 23760...View the full answer
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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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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