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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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