Question

Macro Company has the following adjusted accounts and balances at June 30:

Macro Company has the following adjusted accounts and balances at June 30: Accounts Payable $ 370 Accounts Receivable 620 Accumulated Amortization 185 Accumulated Depreciation 320 Cash 1,090 Common Stock 370 Deferred Revenue 135 Depreciation Expense 145 Equipment 1,470 Income Tax Expense 145 Income Tax Payable 40 Interest Expense 215 Interest Revenue 60 Notes Payable (long-term) 1,370 Office Expenses 890 Prepaid Rent 50 Rent Expense 470 Retained Earnings 155 Salaries and Wages Expense 730 Sales Revenue 3,835 Software 235 Supplies 780
How do you prepare an adjusted trial balance for Macro Company at June 30?

Answer 1

Adjusted trial balance is prepared by listing the account balances under
debit and credit columns of the adjusted trial balance on the assumption
that they are normal balances.
ADJUSTED TRIAL BALANCE
	Debit	Credit
Accounts Payable		$ 370
Accounts Receivable	$ 620
Accumulated Amortization		$ 185
Accumulated Depreciation		$ 320
Cash	$1,090
Common Stock		$ 370
Deferred Revenue		$ 135
Depreciation Expense	$ 145
Equipment	$1,470
Income Tax Expense	$ 145
Income Tax Payable		$   40
Interest Expense	$ 215
Interest Revenue		$   60
Notes Payable (long-term)		$1,370
Office Expenses	$ 890
Prepaid Rent	$   50
Rent Expense	$ 470
Retained Earnings		$ 155
Salaries and Wages Expense	$ 730
Sales Revenue		$3,835
Software	$ 235
Supplies	$ 780
Total	$               6,840	$            6,840