Homework Help is Here – Start Your Trial Now!
Business
Accounting
Direction: Prepare a Trial Balance. There is a space provided after the data where you can write your answer. ABM Company Trial Balance 20XX           Account Title   Debit   Credit Cash ₱ 100,000.00     Accounts Receivable     ₱ 60,000.00 Inventory       50,000.00 Property, Plant and Equipment   120,000.00     Accumulated Depreciation       10,000.00 Land       200,000.00 Accounts Payable   5,000.00     Notes Payable       5,000.00 Mortgage Payable       10,000.00 Capital   270,000.00     Withdrawals       5,000.00 Service Revenue       300,000.00 Rent Expense   15,000.00     Salaries Expense       35,000.00 Tax Expense       5,000.00 Utilities Expense   10,000.00     Totals   ?   ?

Direction: Prepare a Trial Balance. There is a space provided after the data where you can write your answer. ABM Company Trial Balance 20XX           Account Title   Debit   Credit Cash ₱ 100,000.00     Accounts Receivable     ₱ 60,000.00 Inventory       50,000.00 Property, Plant and Equipment   120,000.00     Accumulated Depreciation       10,000.00 Land       200,000.00 Accounts Payable   5,000.00     Notes Payable       5,000.00 Mortgage Payable       10,000.00 Capital   270,000.00     Withdrawals       5,000.00 Service Revenue       300,000.00 Rent Expense   15,000.00     Salaries Expense       35,000.00 Tax Expense       5,000.00 Utilities Expense   10,000.00     Totals   ?   ?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Topic Video
Question

Direction: Prepare a Trial Balance. There is a space provided after the data where you can write your answer.

ABM Company

Trial Balance

20XX
         

Account Title

  

Debit

  

Credit

Cash

₱

100,000.00

    

Accounts Receivable

    

₱

60,000.00

Inventory

      

50,000.00

Property, Plant and Equipment

  

120,000.00

    

Accumulated Depreciation

      

10,000.00

Land

      

200,000.00

Accounts Payable

  

5,000.00

    

Notes Payable

      

5,000.00

Mortgage Payable

      

10,000.00

Capital

  

270,000.00

    

Withdrawals

      

5,000.00

Service Revenue

      

300,000.00

Rent Expense

  

15,000.00

    

Salaries Expense

      

35,000.00

Tax Expense

      

5,000.00

Utilities Expense

  

10,000.00

    

Totals

  

?

  

?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting Equation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS