P4.4A (LO 1, 2, 4) Financial Statement Rusthe Management Services began business on January 1, 2020, with a capital investment of $120,000. The company manages condominiums for owners (Service Revenue) and rents space in its own office building (Rent Revenue). The trial balance and adjusted trial balance columns of the worksheet at the end of the first year are as follows. Account Titles Cash Accounts Receivable Prepaid Insurance Land Buildings Rusthe Management Services Worksheet For the Year Ended December 31, 2020 Trial Balance Cr. Dr. 13,800 28,300 3,600 67,000 127,000 Adjusted Trial Balance Dr. 13,800 28,300 2,100 67,000 127,000 Cr. Complete worksheet; prepare classified balance sheet, entries, and post-closing trial balance.
P4.4A (LO 1, 2, 4) Financial Statement Rusthe Management Services began business on January 1, 2020, with a capital investment of $120,000. The company manages condominiums for owners (Service Revenue) and rents space in its own office building (Rent Revenue). The trial balance and adjusted trial balance columns of the worksheet at the end of the first year are as follows. Account Titles Cash Accounts Receivable Prepaid Insurance Land Buildings Rusthe Management Services Worksheet For the Year Ended December 31, 2020 Trial Balance Cr. Dr. 13,800 28,300 3,600 67,000 127,000 Adjusted Trial Balance Dr. 13,800 28,300 2,100 67,000 127,000 Cr. Complete worksheet; prepare classified balance sheet, entries, and post-closing trial balance.
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter21: Accounting For Accruals, Deferrals, And Reversing Entries
Section21.1: Accruals
Problem 1WT
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