Prepare an adjusted trial balance from the following account information, and also considering the adjustment data provided
Question:
Prepare an adjusted trial balance from the following account information, and also considering the adjustment data provided (assume accounts have normal balances). Equipment was recently purchased, so there is neither depreciation expense nor accumulated depreciation.
Adjustments needed:
• Remaining unpaid Salaries due to employees at the end of the period, $0
• Accrued Interest Payable at the end of the period, $7,700
Accounts payable Accounts receivable Cash Common stock Dividends Equipment Notes payable (due next month) Salaries expense Salaries payable Service revenue Supplies Transportation expense $26,000 8,000 29,000 33,000 9,000 68,000 29,000 42,000 2,000 75,000 5,000 4,000
Step by Step Answer:
Here is the adjusted trial balance Account Debit Credit Accounts Payable 26000 Acc...View the full answer
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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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