All associated information and instructions for the Chapter $11$ case are presented between pages $706$ and $713$ in the text. The steps for setting up a new company in Section $11\mathrm{.}3($pages $706$ to $713)$ must be attempted before attempting any of the following questions.

The Adjusted Trial Balance is a trial balance that is prepared after adjusting entries have been made. The purpose of the Adjusted Trial Balance is to verify that our accounting system still balances after adjustments. In addition, it permits us to review the adjusted account balances to crosscheck that our adjusting entries had the desired effect on the account balances.

Required:

To view an Adjusted Trial Balance in QBO simply run the Trial Balance report again after adjusting entries have been entered in QBO.

From the Navigation Bar, select Reports

Select Standard report tab

Select Report Category: For My Accountant

Select Trial Balance and complete steps to run the Trial Balance again at $02/29/2024$ after adjusting entries are entered

Export the Trial Balance $($Adjusted$)$ to Excel.

What is the amount of Total Debits?

What is amount of Total Credits?

What is balance in the Liability Insurance Expense account?

What is the balance in the Unearned Revenue $($Liability$)$ account?

What is the balance in the Office Supplies & Software $($Expenses$)$ account?

What is the balance in the Prepaid Expenses: Supplies $($Asset$)$ account?

What is the balance in the Prepaid Expenses: Insurance $($Asset$)$ account?

$\backslash$table$[[1.$ Total debits,$],[2.$ Total credits,$],[3.$ Balance in liability insurance expense account,$],[4.$ Balance in unearned revenue $($liability$)$ account,$],[5.$ Balance in office supplies and software $($expenses$)$ account,$],[6.$ Balance in prepaid expenses: supplies $($asset$)$ account,$],[7.$ Balance in prepaid expenses: Insurance $($asset$)$ account,$]]$