Prepare an adjusted trial balance from the following account information, considering the adjustment data provided (assume accounts
Question:
Prepare an adjusted trial balance from the following account information, considering the adjustment data provided (assume accounts have normal balances). Building and Equipment were recently purchased, so there is neither depreciation expense nor accumulated depreciation.
Adjustments needed:
• Physical count of supplies inventory remaining at end of period, $3,300
• Customer fees collected in advance (payments were recorded as Fees Earned), $18,500
Accounts payable Accounts receivable Building Cash Common stock Dividends Equipment Fees earned revenue Land Supplies expense Notes payable Retained earnings Salaries expense Supplies $ 3,600 45,333 156,000 50,480 110,000 18,000 33,500 225,430 18,000 5,123 85,500 60,606 151,900 6,800
Step by Step Answer:
Adjusted Trial Balance Accounts Payable 3600 Accounts Receivable 61833 Building 156000 Cash 69980 Co...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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