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Prepare Waterway Design Company's balance sheet. Save for Later → WATERWAY DESIGN COMPANY Balance Sheet Assets $ Liabilities and Owner's Equity Attempts: 0 of 2 used $ $ Submit Answer

Prepare Waterway Design Company's balance sheet. Save for Later → WATERWAY DESIGN COMPANY Balance Sheet Assets $ Liabilities and Owner's Equity Attempts: 0 of 2 used $ $ Submit Answer

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 Waterway Design Company's balance sheet. Save for Later WATERWAY DESIGN COMPANY Balance Sheet Assets Liabilities and Owner's Equity Attempts: 0 of 2 used JUU Submit Answer
Transcribed Image Text:Prepare Waterway Design Company's balance sheet. Save for Later WATERWAY DESIGN COMPANY Balance Sheet Assets Liabilities and Owner's Equity Attempts: 0 of 2 used JUU Submit Answer
The adjusted trial balance for Waterway Design Company at December 31, 2024, which is the end of its fiscal year, is as follows: Cash Accounts receivable Supplies Prepaid insurance WATERWAY DESIGN COMPANY Adjusted Trial Balance December 31, 2024 Equipment Accumulated depreciation-equipment Accounts payable Salaries payable Unearned revenue H. Waterway, capital H. Waterway, drawings Service revenue Salaries expense Supplies expense Rent expense Insurance expense Depreciation expense Totals Debit $8,740 10,160 1,940 3,360 15,120 5,720 14,700 1,260 10,080 2,020 2,500 $75,600 Credit $5,040 5,800 1,840 1,180 13,440 48,300 $75,600
Transcribed Image Text:The adjusted trial balance for Waterway Design Company at December 31, 2024, which is the end of its fiscal year, is as follows: Cash Accounts receivable Supplies Prepaid insurance WATERWAY DESIGN COMPANY Adjusted Trial Balance December 31, 2024 Equipment Accumulated depreciation-equipment Accounts payable Salaries payable Unearned revenue H. Waterway, capital H. Waterway, drawings Service revenue Salaries expense Supplies expense Rent expense Insurance expense Depreciation expense Totals Debit $8,740 10,160 1,940 3,360 15,120 5,720 14,700 1,260 10,080 2,020 2,500 $75,600 Credit $5,040 5,800 1,840 1,180 13,440 48,300 $75,600
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