EB13. LO 4.4 Prepare an adjusted trial balance from the following account information, considering the adjustment data provided (assume accounts have normal balances). Adjustments needed: · Accounts payable Accounts receivable Cash Common stock Fees earned revenue Operating expense Supplies $10,075 15,500 64,575 31,000 82,000 38,000 5,000 Physical count of supplies inventory remaining at end of period, $2,150 Taxes payable at end of period, $3,850
EB13. LO 4.4 Prepare an adjusted trial balance from the following account information, considering the adjustment data provided (assume accounts have normal balances). Adjustments needed: · Accounts payable Accounts receivable Cash Common stock Fees earned revenue Operating expense Supplies $10,075 15,500 64,575 31,000 82,000 38,000 5,000 Physical count of supplies inventory remaining at end of period, $2,150 Taxes payable at end of period, $3,850
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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:= 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"
Transcribed Image Text: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
Expert Solution
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Step 1 Introduction
“Since you have posted multiple questions, we will provide the solution only to the first question. Please repost the remaining question separately”.
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.
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