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Presented below is the adjusted trial balance of De Young Corporation at December 31, 2014 Debits Credits Cash ? Office Supplies 2,640 Prepaid Insurance 2,200 Equipment Accumulated Depreciation - Equipment 105,600 8,800 Trademarks 2,090 Accounts Payable Salaries & Wages Payable 22,000 1,100 Unearned Service Revenue 4,400 Bonds Payable, Due 2019 19,800 Common Stock 22,000 Retained Earnings 55,000 Service Revenue 22,000 Salaries & Wages Expense 19,800 Insurance Expense 3,080 Rent Expense 2,640 Interest Expense 1,980 Total ? Net Loss for the Year was $5,500 No Dividends were declared during 2015

Presented below is the adjusted trial balance of De Young Corporation at December 31, 2014 Debits Credits Cash ? Office Supplies 2,640 Prepaid Insurance 2,200 Equipment Accumulated Depreciation - Equipment 105,600 8,800 Trademarks 2,090 Accounts Payable Salaries & Wages Payable 22,000 1,100 Unearned Service Revenue 4,400 Bonds Payable, Due 2019 19,800 Common Stock 22,000 Retained Earnings 55,000 Service Revenue 22,000 Salaries & Wages Expense 19,800 Insurance Expense 3,080 Rent Expense 2,640 Interest Expense 1,980 Total ? Net Loss for the Year was $5,500 No Dividends were declared during 2015

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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What is the cash amount?

### Adjusted Trial Balance for De Young Corporation at December 31, 2014 The adjusted trial balance provides a comprehensive overview of De Young Corporation’s financial standing, detailing all debited and credited accounts by the end of the fiscal year. #### Accounts and Balances - **Debits:** - Office Supplies: $2,640 - Prepaid Insurance: $2,200 - Equipment: $105,600 - Trademarks: $2,090 - Salaries & Wages Expense: $19,800 - Insurance Expense: $3,080 - Rent Expense: $2,640 - Interest Expense: $1,980 - **Credits:** - Accumulated Depreciation - Equipment: $8,800 - Accounts Payable: $22,000 - Salaries & Wages Payable: $1,100 - Unearned Service Revenue: $4,400 - Bonds Payable, Due 2019: $19,800 - Common Stock: $22,000 - Retained Earnings: $55,000 - Service Revenue: $22,000 #### Additional Information - **Net Loss for the Year:** $5,500 - **Dividends:** No dividends were declared during 2015. #### Overview This trial balance aims to ensure that the company's financial statements adhere to accounting accuracy. The debits and credits columns should match in total, confirming the integrity of the financial records. If discrepancies exist, corresponding adjustments are necessary to reflect the true financial state of the corporation. Note the absence of a specific cash value, indicating further assessment may be necessary.
Transcribed Image Text:### Adjusted Trial Balance for De Young Corporation at December 31, 2014 The adjusted trial balance provides a comprehensive overview of De Young Corporation’s financial standing, detailing all debited and credited accounts by the end of the fiscal year. #### Accounts and Balances - **Debits:** - Office Supplies: $2,640 - Prepaid Insurance: $2,200 - Equipment: $105,600 - Trademarks: $2,090 - Salaries & Wages Expense: $19,800 - Insurance Expense: $3,080 - Rent Expense: $2,640 - Interest Expense: $1,980 - **Credits:** - Accumulated Depreciation - Equipment: $8,800 - Accounts Payable: $22,000 - Salaries & Wages Payable: $1,100 - Unearned Service Revenue: $4,400 - Bonds Payable, Due 2019: $19,800 - Common Stock: $22,000 - Retained Earnings: $55,000 - Service Revenue: $22,000 #### Additional Information - **Net Loss for the Year:** $5,500 - **Dividends:** No dividends were declared during 2015. #### Overview This trial balance aims to ensure that the company's financial statements adhere to accounting accuracy. The debits and credits columns should match in total, confirming the integrity of the financial records. If discrepancies exist, corresponding adjustments are necessary to reflect the true financial state of the corporation. Note the absence of a specific cash value, indicating further assessment may be necessary.
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