PA14. LO 4.4Prepare an adjusted trial balance from the adjusted account balances; solve for the one missing account balance: Cash (assume accounts have normal balances). Accounts payableAccounts receivable$19,00023,760CashCommon stock38,0009,00020,00021,46645,00061,00018,81519,68990,5505,25051,000DividendsEquipmentPrepaid insuranceLandNotes payableRetained earningsInsurance expenseService revenueSuppliesSalaries expense

Answered: LO 4.4Prepare an adjusted trial balance…

LO 4.4Prepare an adjusted trial balance from the adjusted account balances; solve for the one missing account balance: Cash (assume accounts have normal balances).

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 13GI

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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

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PA14.

LO 4.4Prepare an adjusted trial balance from the adjusted account balances; solve for the one missing account balance: Cash (assume accounts have normal balances).

Accounts payable
Accounts receivable
$19,000
23,760
Cash
Common stock
38,000
9,000
20,000
21,466
45,000
61,000
18,815
19,689
90,550
5,250
51,000
Dividends
Equipment
Prepaid insurance
Land
Notes payable
Retained earnings
Insurance expense
Service revenue
Supplies
Salaries expense

Definition Definition Statement that shows the ending balance of all the ledger accounts of a firm at the end of the accounting period. The trial balance is prepared after all the entries have been posted to the ledger accounts and assists in preparing the final accounts of a firm.

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Unadjusted trial balance includes both temporary accounts and permanent accounts. All expenses, losses, and assets should be debited and all income, gain, and liabilities should be credited.

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Accounting for Cash and cash equivalents

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