Requirement 2. Prepare an unadjusted trial balance. (Exclude any accounts with a zero balance from the trial balance.)Walker's Quality AutomotiveUnadjusted Trial BalanceDecember 31, 2024Account TitleCashCommon StockEquipmentPrepaid InsuranceLandOffice SuppliesAccounts PayableNotes PayableAdvertising ExpenseUtilities ExpenseUtilities PayableService RevenueAccounts ReceivableSalaries ExpenseRent ExpenseUnearned RevenueDividendsTotalDebitBalance5969015000300018000230020002602900370016006000114450Credit58000120033000260209001090114450 On December 1, Gary Walker began an auto repair shop, Walker's Quality Automotive. The following transactionsPost the adjusting entries to the T-accounts. First, enter the unadjusted balances of the accounts ("Bal.") from requirement 2. For accounts with a zero unadjusted balance, do not make an unadjusted balance entry. Then use the adjustmentand corresponding letters as posting references-"Adj. (a)", "Adj. (b)", etc. Use a "Bal." posting reference on the last line of each T-account to show the adjusted balance of each account.CashAccounts PayableService RevenueAccounts ReceivableOffice SuppliesUtilities PayableInterest PayableUnearned RevenueSalaries ExpenseRent ExpenseThe business uses the following accounts:Utilities Expense

Unadjusted Trial Balance - Unadjusted Trial Balance is the trial balance before making adjustments.…

Requirement 2. Prepare an unadjusted trial balance. (Exclude any accounts with a zero balance from the trial balance.) Walker's Quality Automotive Unadjusted Trial Balance December 31, 2024 Account Title Cash Common Stock Equipment Prepaid Insurance Land Office Supplies Accounts Payable Notes Payable Advertising Expense Utilities Expense Utilities Payable Service Revenue Accounts Receivable Salaries Expense Rent Expense Unearned Revenue Dividends Total Debit Balance 59690 15000 3000 18000 2300 2000 260 2900 3700 1600 6000 114450 Credit 58000 1200 33000 260 20900 1090 114450

Requirement 2. Prepare an unadjusted trial balance. (Exclude any accounts with a zero balance from the trial balance.) Walker's Quality Automotive Unadjusted Trial Balance December 31, 2024 Account Title Cash Common Stock Equipment Prepaid Insurance Land Office Supplies Accounts Payable Notes Payable Advertising Expense Utilities Expense Utilities Payable Service Revenue Accounts Receivable Salaries Expense Rent Expense Unearned Revenue Dividends Total Debit Balance 59690 15000 3000 18000 2300 2000 260 2900 3700 1600 6000 114450 Credit 58000 1200 33000 260 20900 1090 114450

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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