An accountant prepared the following post-closing trial balance: Prepare a corrected post-closing trial balance. Assume that all
Question:
An accountant prepared the following post-closing trial balance:
Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct.
Transcribed Image Text:
Gypsy Treasures Co. Post-Closing Trial Balance March 31, 2012 Debit Balances Balances Credit Cash 18,000 Accounts Receivable.. 31,000 Supplies... Equipment... Accumulated Depreciation-Equipment . 5,500 75,000 19,000 Accounts Payable Salaries Payable . 11,000 1,000 Unearned Rent. 6,000 Capital Stock.. Retained Earnings. 13,500 79,000 98,500 160,500
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Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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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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