Use the following account information and consider the adjustment data provided (assume accounts have normal balances). Eguipment was recently purchased, so there is neither depreciation expense nor accumulated depreciation Accounts Payable $11,500 Accounts Receivable 14,260 Cash 22,222 Common Stock 31,000 Dividends 6,000 Equipment 12,000 Prepaid Insurance 25,444 Land 22,000 Notes Payable 29,000 Retained Earnings Insurance Expense 12,609 Service Revenue 82,050 Supplies 2,750 Salaries Expense 53,000 Adjustments needed: Salaries due to employees, but unpaid at the end of the period, $2,000. Insurance still unexpired at end of the period, $12,000. Prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank

Use the following account information and consider the adjustment data provided (assume accounts have normal balances). Eguipment was recently purchased, so there is neither depreciation expense nor accumulated depreciation Accounts Payable $11,500 Accounts Receivable 14,260 Cash 22,222 Common Stock 31,000 Dividends 6,000 Equipment 12,000 Prepaid Insurance 25,444 Land 22,000 Notes Payable 29,000 Retained Earnings Insurance Expense 12,609 Service Revenue 82,050 Supplies 2,750 Salaries Expense 53,000 Adjustments needed: Salaries due to employees, but unpaid at the end of the period, $2,000. Insurance still unexpired at end of the period, $12,000. Prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank

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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