American Chip Corporation's fiscal year-end is December 31. The following is a partial adjusted trial balance as |of December 31, 2016. Credits Account Title Debits Retained earnings Sales revenue Interest revenue 80,000 750,000 3,000 Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Insurance expense 420,000 100,000 15,000 30,000 5,000 6,000

American Chip Corporation's fiscal year-end is December 31. The following is a partial adjusted trial balance as |of December 31, 2016. Credits Account Title Debits Retained earnings Sales revenue Interest revenue 80,000 750,000 3,000 Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Insurance expense 420,000 100,000 15,000 30,000 5,000 6,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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