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Vaughn Design was founded by Thomas Grant in January 2011. Presented below is the adjusted trial balance as of December 31, 2020. Cash ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 Accounts Receivable VAUGHN DESIGN Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Notes Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Interest Expense Depreciation Expense Supplies Expenses Rent Expense Debit $11,870 22,370 5,870 3,370 60,870 12,170 1,062 590 Credit $35,870 5,870 240 8,000 6,470 1,512 10,870 4,370 62,370 10,000 3,400 4,000 $135,572 $135,572

Vaughn Design was founded by Thomas Grant in January 2011. Presented below is the adjusted trial balance as of December 31, 2020. Cash ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 Accounts Receivable VAUGHN DESIGN Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Notes Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Interest Expense Depreciation Expense Supplies Expenses Rent Expense Debit $11,870 22,370 5,870 3,370 60,870 12,170 1,062 590 Credit $35,870 5,870 240 8,000 6,470 1,512 10,870 4,370 62,370 10,000 3,400 4,000 $135,572 $135,572

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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Vaughn Design was founded by Thomas Grant in January 2011. Presented below is the adjusted trial balance as of December 31, 2020. VAUGHN DESIGN ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Notes Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Interest Expense Depreciation Expense Supplies Expenses Rent Expense Debit $11,870 22,370 5,870 3,370 60,870 12,170 1,062 590 Credit $35,870 5,870 240 8,000 6,470 1,512 10,870 4,370 62,370 10,000 3,400 4,000 $135,572 $135,572
Transcribed Image Text:Vaughn Design was founded by Thomas Grant in January 2011. Presented below is the adjusted trial balance as of December 31, 2020. VAUGHN DESIGN ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Notes Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Interest Expense Depreciation Expense Supplies Expenses Rent Expense Debit $11,870 22,370 5,870 3,370 60,870 12,170 1,062 590 Credit $35,870 5,870 240 8,000 6,470 1,512 10,870 4,370 62,370 10,000 3,400 4,000 $135,572 $135,572
Cash Accounts Receivable Supplies Less : VAUGHN DESIGN Balance Sheet December 31, 2020 Assets Liabilities and Stockholders' Equity 11870 22370 5870 25000
Transcribed Image Text:Cash Accounts Receivable Supplies Less : VAUGHN DESIGN Balance Sheet December 31, 2020 Assets Liabilities and Stockholders' Equity 11870 22370 5870 25000
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