Unadjusted trail balance Account Debit ($) Credit ($) Cash 37,000 Investment (Capital) 100,000 Accounts Receivable 16,000 Rent Expense 4,000 Office Supplies 1,000 Unearned Revenue 16,000 Salaries Expense 6,000 164,000 Total 180,000 180,000 Missing Credit = Total Debits Credit Balance Missing Credit = $ 180,000 $16,000 = $164,00 5 Create and journalize adjustments 6 Prepare adjusted trial balance 7- Prepare financial statements 8 - Prepare closing entries 9 - Prepare post - closing trial balance.
Unadjusted trail balance Account Debit ($) Credit ($) Cash 37,000 Investment (Capital) 100,000 Accounts Receivable 16,000 Rent Expense 4,000 Office Supplies 1,000 Unearned Revenue 16,000 Salaries Expense 6,000 164,000 Total 180,000 180,000 Missing Credit = Total Debits Credit Balance Missing Credit = $ 180,000 $16,000 = $164,00 5 Create and journalize adjustments 6 Prepare adjusted trial balance 7- Prepare financial statements 8 - Prepare closing entries 9 - Prepare post - closing trial balance.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Unadjusted trail balance Account Debit ($) Credit ($) Cash 37,000 Investment (Capital) 100,000
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