We'd help with EB14 7:52Search:= Financial Accounting-OP...Accounts payableAccounts receivableAdministrative expenseAdjustments needed:CashCommon stockPrepaid rentRevenueEB13. LO 4.4 Prepare an adjusted trial balance from the following account information, considering theadjustment data provided (assume accounts have normal balances).Accounts payableAccounts receivableCashCommon stockFees earned revenueOperating expenseSuppliesChapter 4 The Adjustment ProcessThis OpenStax book is available for free at http://cnx.org/content/col25448/1.4Physical co of supplies inventory remaining at end of period, $2,15Taxes payable at end of period, $3,850$ 22,40045,75057,70056,50040,0008,750106,300CashAccounts receivableSuppliesAccounts payableTaxes payableCommon stock$10,07515,50064,57531,00082,00038,0005,000Adjusted Trial BalanceDebit$ 77,80019,5007,650Fees earned revenueOperating expenseEB14. LO 4.5 From the following Company B adjusted trial balance, prepare simple financial statements, asfollows:A. Income StatementB. Retained Earnings StatementC. Balance Sheet39,200144,150.ılCreditDone$ 8,5005,35035,00095,300144,1502Problem Set APA1. LO 4.1 Identify whether each of the following transactions, which are related to revenue recognition, areaccrual deferral or neither.Q

Answered: EB13. LO 4.4 Prepare an adjusted trial…

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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We'd help with EB14

7:52
Search
:= Financial Accounting-OP...
Accounts payable
Accounts receivable
Administrative expense
Adjustments needed:
Cash
Common stock
Prepaid rent
Revenue
EB13. LO 4.4 Prepare an adjusted trial balance from the following account information, considering the
adjustment data provided (assume accounts have normal balances).
Accounts payable
Accounts receivable
Cash
Common stock
Fees earned revenue
Operating expense
Supplies
Chapter 4 The Adjustment Process
This OpenStax book is available for free at http://cnx.org/content/col25448/1.4
Physical co of supplies inventory remaining at end of period, $2,15
Taxes payable at end of period, $3,850
$ 22,400
45,750
57,700
56,500
40,000
8,750
106,300
Cash
Accounts receivable
Supplies
Accounts payable
Taxes payable
Common stock
$10,075
15,500
64,575
31,000
82,000
38,000
5,000
Adjusted Trial Balance
Debit
$ 77,800
19,500
7,650
Fees earned revenue
Operating expense
EB14. LO 4.5 From the following Company B adjusted trial balance, prepare simple financial statements, as
follows:
A. Income Statement
B. Retained Earnings Statement
C. Balance Sheet
39,200
144,150
.ıl
Credit
Done
$ 8,500
5,350
35,000
95,300
144,150
2
Problem Set A
PA1. LO 4.1 Identify whether each of the following transactions, which are related to revenue recognition, are
accrual deferral or neither.
Q

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Adjusted trial balance is the statement (non-financial) that includes balances of all the accounts after passing adjusting entries at the close of the year. Such adjustments may relate to outstanding income & expenses or prepaid incomes & expenses, depreciation, etc. Adjusted trial balance is prepared after preparation of trial balance whereas trial balance excludes all adjusting entries.