The following accounts and account balances are available for Badger Auto Parts at December 31: Accounts Payable $9,000 Income Taxes Payable $3,600 Accounts Receivable 41,100 Interest Expense 6,650 Accumulated Depreciation (Furniture) 47,800 Interest Payable 1,800 Advertising Expense 29,200 Inventory 60,600 Cash 3,200 Notes Payable (Long-Term) 50,000 Common Stock 100,000 Prepaid Rent 15,250 Cost of Goods Sold 184,400 Retained Earnings, January 1 16,000 Depreciation Expense (Furniture) 10,400 Sales Revenue 264,100 Furniture 128,000 Utilities Expense 9,700 Income Taxes Expense 3,800 Required: Prepare a trial balance. Assume that all accounts have normal balances. If an amount box does not require an entry, leave it blank.
The following accounts and account balances are available for Badger Auto Parts at December 31: Accounts Payable $9,000 Income Taxes Payable $3,600 Accounts Receivable 41,100 Interest Expense 6,650 Accumulated Depreciation (Furniture) 47,800 Interest Payable 1,800 Advertising Expense 29,200 Inventory 60,600 Cash 3,200 Notes Payable (Long-Term) 50,000 Common Stock 100,000 Prepaid Rent 15,250 Cost of Goods Sold 184,400 Retained Earnings, January 1 16,000 Depreciation Expense (Furniture) 10,400 Sales Revenue 264,100 Furniture 128,000 Utilities Expense 9,700 Income Taxes Expense 3,800 Required: Prepare a trial balance. Assume that all accounts have normal balances. If an amount box does not require an entry, leave it blank.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following accounts and account balances are available for Badger Auto Parts at December 31:
| Accounts Payable | $9,000 | Income Taxes Payable | $3,600 | |
| Accounts Receivable | 41,100 | Interest Expense | 6,650 | |
| 47,800 | Interest Payable | 1,800 | ||
| Advertising Expense | 29,200 | Inventory | 60,600 | |
| Cash | 3,200 | Notes Payable (Long-Term) | 50,000 | |
| Common Stock | 100,000 | Prepaid Rent | 15,250 | |
| Cost of Goods Sold | 184,400 | 16,000 | ||
| Depreciation Expense (Furniture) | 10,400 | Sales Revenue | 264,100 | |
| Furniture | 128,000 | Utilities Expense | 9,700 | |
| Income Taxes Expense | 3,800 |
Required:
Prepare a
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