In: Accounting
Edit question Record the below transactions including adjustments as + and - entries under the below accounting equation sheet.
Cash | Accounts | Inventory | Equipment | Accum | Prepaid | = | Accounts | Notes | Interest | Wages | Income | Bonds | Common | Retained | |
Receivable | Deprec. | Insurance | Payable | Payable | Payable | Payable | Taxes | Payable | Stock | Earnings |
Prepaid insurance-This year and Next Year 6,300 |
Sales Revenue for year of 80, 000 (10,000 in cash) and remaining balance charged on account |
Paid wages during the current period 5,000 |
AP Bills to supplies of 2,000 |