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Prepare an adjusted Trial balance Accounts Payable- 88,851 Accounts receivable- 442,120 Accumulated depreciation: building- 1,265 Accumulated...

Prepare an adjusted Trial balance

Accounts Payable- 88,851

Accounts receivable- 442,120

Accumulated depreciation: building- 1,265

Accumulated depreciation: equipment- 9,900

Advertising Expense- 9,240

Allowance for doubtful accounts- 75,000

Allowance to Reduce Inventory to NRV- 16,000

Bad Debt Expense- 75,000

Bonds Payable- 700,000

Building- 37,500

Cash- 834,544

Common stock- 135,000

Depreciation Expense- 11,165

Dividends- 28,000

Equipment- 21,600

Impairment Loss Expense- 5,000

Income Taxes Expense- 99,000

Income taxes payable- 99,000

Insurance Expense- 22,500

Interest Expense- 31,171

Interest Payable- 35,000

Inventory- 70,000

Land- 88,000

Notes Payable- 0

Office Expense- 28,500

Paid In Capital- Treasury Stock- 6,000

Patent- 45,000

PIC in Excess of Par- Common Stock- 130,000

Premium on Bonds Payable- 52,045

Prepaid insurance- 4,500

Purchases- 177,000

Rent Revenue- 4,500

Retained earnings- 0

Sales Revenue- 790,000

Treasury Stock- 10,000

Unearned rent revenue- 9,000

Utilities Expense- 33,571

Wages Expense- 66,150

Wages Payable-4,000

Solutions

Expert Solution

Adjusted Trial Balance
Cash $834544
Accounts receivable- 442120
Allowance for doubtful accounts 75000
Inventory 70000
Allowance to Reduce Inventory to NRV 16000
Prepaid insurance 4500
Land- 88000
Building 37500
Accumulated depreciation: building 1265
Equipment 21600
Accumulated depreciation: equipment 9900
Patent 45000
Accounts Payable 88851
Interest Payable- 35000
Income taxes payable 99000
Wages Payable 4000
Unearned rent revenue 9000
Bonds Payable 700000
Premium on Bonds Payable 52045
Common stock 135000
PIC in Excess of Par- Common Stock 130000
Paid In Capital- Treasury Stock 6000
Retained earnings
Treasury Stock 10000
Dividends 28000
Sales Revenue 790000
Rent Revenue 4500
Purchases 177000
Wages Expense 66150
Bad Debt Expense- 75000
Office Expense 28500
Insurance Expense 22500
Advertising Expense 9240
Depreciation Expense 11165
Interest Expense 31171
Loss on Inventory 16000
Utilities Expense 33571
Impairment Loss Expense 5000
Income Taxes Expense 99000
Total 2155561 2155561

ekkarill92 answered 1 year ago
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