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Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense May 31, 20Y6 Advertising Expense Gas, Electricity, and Water Expense Miscellaneous Expense Debit Balances Credit Balances x x 171,175 x < × × x x 50,000 x x 429,850 270,000 > x 25,200 5,100 > > x x Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable The Lexington Group Unadjusted Trial Balance May 31, 2016 Debit Balances Credit Balances 20,350 37,000 1,100 200 171,175 36,000 26,000 Common Stock 50,000 Retained Earnings 94,150 Dividends 15,000 Fees Earned 429,850 Wages Expense 270,000 Rent Expense 63,000 Advertising Expense 25,200 Miscellaneous Expense 5,100 608,125 636,000

Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense May 31, 20Y6 Advertising Expense Gas, Electricity, and Water Expense Miscellaneous Expense Debit Balances Credit Balances x x 171,175 x < × × x x 50,000 x x 429,850 270,000 > x 25,200 5,100 > > x x Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable The Lexington Group Unadjusted Trial Balance May 31, 2016 Debit Balances Credit Balances 20,350 37,000 1,100 200 171,175 36,000 26,000 Common Stock 50,000 Retained Earnings 94,150 Dividends 15,000 Fees Earned 429,850 Wages Expense 270,000 Rent Expense 63,000 Advertising Expense 25,200 Miscellaneous Expense 5,100 608,125 636,000

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 16MCQ
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Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense May 31, 20Y6 Advertising Expense Gas, Electricity, and Water Expense Miscellaneous Expense Debit Balances Credit Balances x x 171,175 x < × × x x 50,000 x x 429,850 270,000 > x 25,200 5,100 > > x x
Transcribed Image Text:Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense May 31, 20Y6 Advertising Expense Gas, Electricity, and Water Expense Miscellaneous Expense Debit Balances Credit Balances x x 171,175 x < × × x x 50,000 x x 429,850 270,000 > x 25,200 5,100 > > x x
Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable The Lexington Group Unadjusted Trial Balance May 31, 2016 Debit Balances Credit Balances 20,350 37,000 1,100 200 171,175 36,000 26,000 Common Stock 50,000 Retained Earnings 94,150 Dividends 15,000 Fees Earned 429,850 Wages Expense 270,000 Rent Expense 63,000 Advertising Expense 25,200 Miscellaneous Expense 5,100 608,125 636,000
Transcribed Image Text:Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable The Lexington Group Unadjusted Trial Balance May 31, 2016 Debit Balances Credit Balances 20,350 37,000 1,100 200 171,175 36,000 26,000 Common Stock 50,000 Retained Earnings 94,150 Dividends 15,000 Fees Earned 429,850 Wages Expense 270,000 Rent Expense 63,000 Advertising Expense 25,200 Miscellaneous Expense 5,100 608,125 636,000
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