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Prepare an adjusted trial balance from the following adjusted account balances (assume accounts have normal balances). If an amount box does not require an entry, leave it blank. Accounts Payable $6,100 Accounts Receivable 13,000 Administrative Expense 49,500 Cash 29,400 Common Stock 14,800 Prepaid Insurance 9,200 Service Revenue 80,200

Prepare an adjusted trial balance from the following adjusted account balances (assume accounts have normal balances). If an amount box does not require an entry, leave it blank. Accounts Payable $6,100 Accounts Receivable 13,000 Administrative Expense 49,500 Cash 29,400 Common Stock 14,800 Prepaid Insurance 9,200 Service Revenue 80,200

FINANCIAL ACCOUNTING
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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Prepare an adjusted trial balance from the following adjusted account balances (assume accounts have normal balances). If an amount box does not require an entry, leave it blank.

Accounts Payable $6,100

Accounts Receivable 13,000

Administrative Expense 49,500

Cash 29,400

Common Stock 14,800

Prepaid Insurance 9,200

Service Revenue 80,200

**Adjusted Trial Balance** | Account | Debit | Credit | |--------------------------|---------|---------| | Cash | 29,400 | | | Accounts Receivable | 13,000 | | | Prepaid Insurance | 9,200 | | | Accounts Payable | | 6,100 | | Common Stock | | | **Explanation of the Table:** The table represents an adjusted trial balance for a business, listing accounts with their respective debit and credit balances. - **Cash**: Shows a debit balance of 29,400. - **Accounts Receivable**: Indicates a debit balance of 13,000, representing amounts owed by customers. - **Prepaid Insurance**: Displays a debit balance of 9,200, reflecting payments made for insurance coverage not yet expired. - **Accounts Payable**: Represents a credit balance of 6,100, indicating amounts the business owes to suppliers. - **Common Stock**: This account is listed but not assigned any balance, typically represents ownership interest in the company.
Transcribed Image Text:**Adjusted Trial Balance** | Account | Debit | Credit | |--------------------------|---------|---------| | Cash | 29,400 | | | Accounts Receivable | 13,000 | | | Prepaid Insurance | 9,200 | | | Accounts Payable | | 6,100 | | Common Stock | | | **Explanation of the Table:** The table represents an adjusted trial balance for a business, listing accounts with their respective debit and credit balances. - **Cash**: Shows a debit balance of 29,400. - **Accounts Receivable**: Indicates a debit balance of 13,000, representing amounts owed by customers. - **Prepaid Insurance**: Displays a debit balance of 9,200, reflecting payments made for insurance coverage not yet expired. - **Accounts Payable**: Represents a credit balance of 6,100, indicating amounts the business owes to suppliers. - **Common Stock**: This account is listed but not assigned any balance, typically represents ownership interest in the company.
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