The trial balances before and after adjustment for Renfro Company at the end of its fiscal year
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Instructions
Prepare the adjusting entries that were made.
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Renfro Company Trial Balance August 31, 2020 Before After Adjustment Adjustment Cr. Dr. Cr. Dr. Cash $10,400 $10,400 Accounts Receivable 8,800 11,200 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable 2,300 700 4,000 2,500 14,000 14,000 $ 3,600 $ 4,500 5,800 5,800 1,100 -0- Unearned Rent Revenue 1,500 400 Owner's Capital 15,600 15,600 34,000 Service Revenue 36,400 Rent Revenue 11,000 12,100 Salaries and Wages Expense 17,000 18,100 Supplies Expense Rent Expense Insurance Expense -0- 1,600 15,000 15,000 1,500 -0- 900 Depreciation Expense -0- $75,900 $71,500 $71,500 $75,900
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Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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