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  • Trial Balance Accounting Records

    Загружено:

    Kevin Espiritu
    150 просмотров8 страниц
    The trial balance shows account balances for various assets, liabilities, equity, revenue and expense accounts. Adjustments are made for supplies expense, depreciation expense, accumulated depreciation on equipment, interest expense and interest payable. The adjusted trial balance totals are carried forward to the income statement and balance sheet. The income statement shows revenues of $143,700 and expenses of $52,000, resulting in net income of $91,700. The balance sheet presents assets of $520,700 equal to liabilities and equity of $520,700, with D. Mack's capital and retained earnings comprising owner's equity.

    Исходное описание:

    77upages

    Оригинальное название

    Worksheet 1

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    The trial balance shows account balances for various assets, liabilities, equity, revenue and expense accounts. Adjustments are made for supplies expense, depreciation expense, accumulated depreciation on equipment, interest expense and interest payable. The adjusted trial balance totals are carried forward to the income statement and balance sheet. The income statement shows revenues of $143,700 and expenses of $52,000, resulting in net income of $91,700. The balance sheet presents assets of $520,700 equal to liabilities and equity of $520,700, with D. Mack's capital and retained earnings comprising owner's equity.

    Авторское право:

    © All Rights Reserved
    Скачайте в формате XLSX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    150 просмотров8 страниц

    Trial Balance Accounting Records

    Загружено:

    Kevin Espiritu
    The trial balance shows account balances for various assets, liabilities, equity, revenue and expense accounts. Adjustments are made for supplies expense, depreciation expense, accumulated depreciation on equipment, interest expense and interest payable. The adjusted trial balance totals are carried forward to the income statement and balance sheet. The income statement shows revenues of $143,700 and expenses of $52,000, resulting in net income of $91,700. The balance sheet presents assets of $520,700 equal to liabilities and equity of $520,700, with D. Mack's capital and retained earnings comprising owner's equity.

    Авторское право:

    © All Rights Reserved
    Скачайте в формате XLSX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 8

    Account Titles Trial Balance

    Debit
    Cash 124,000
    Accounts Receivable 56,200
    Supplies 10,500
    Prepaid Insurance 24,000
    Equipment 300,000
    Note Payable
    Accounts Payable
    D. Mack, Capital
    D. Mack, Drawing 6,000
    Fees Earned
    Salaries Expense 12,000
    Travel Expense 13,000
    Rent Expense 12,000
    Miscellaneous Expense 2,000
    Total 559,700

    Supplies Expense
    Depreciation Expense
    Accumulated Depreciation - Equipment
    Interest Expense
    Interest Payable
    Insurance Expense
    Totals
    Net Income
    Balances
    Trial Balance Adjustments Adjusted Trial Balanc
    Credit Debit Credit Debit
    124,000
    7,500 63,700
    3,000 7,500
    4,500 19,500
    300,000
    100,000
    123,500
    200,000
    6,000
    136,200 7,500
    12,000
    13,000
    12,000
    2,000
    559,700

    3,000 3,000
    4,000 4,000
    pment 4,000
    1,500 1,500
    1,500
    4,500 4,500
    20,500 20,500 572,700
    ted Trial Balance Income Statement Balance Sheet
    Credit Debit Credit Debit
    124,000
    63,700
    7,500
    19,500
    300,000
    100,000
    123,500
    200,000
    6,000
    143,700 143,700
    12,000
    13,000
    12,000
    2,000

    3,000
    4,000
    4,000
    1,500
    1,500
    4,500
    572,700 52,000 143,700 520,700
    91,700
    143,700 143,700 520,700
    alance Sheet
    Credit

    100,000
    123,500
    200,000

    4,000
    1,500

    429,000
    91,700
    520,700

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