International Inc. operates and franchises pizza delivery and carryout restaurants worldwide. The following is an alphabetical list
Question:
International Inc. operates and franchises pizza delivery and carryout restaurants worldwide. The following is an alphabetical list of accounts and amounts reported in a recent year's set of financial statements. The accounts have normal debit or credit balances and the dollars are rounded to the nearest thousand.
Required:
1. Prepare an adjusted trial balance.
2. How did you determine the amount for retained earnings?
Transcribed Image Text:
38,832 Intangible assets Accounts payable Accounts receivable Accrued expenses payable Accumulated depreciation Additional paid-in capital Advertising expense Buildings and leasehold improvements Cash Common stock Cost of sales Depreciation expense Equipment General and administrative expenses ncome tax expense Income tax receivable Income taxes payable s 82.007 4,077 702 27.394 32,880 230.451 12,801 42,530 64,063 36,812 215,696 56,047 Interest expense 58,293 Interest revenue 337,524 Inventories 47,912 Land 63,463 Long-term debt Long-term notes receivable Other assets 203, 621 20,122 433 Other long-term liabilities 9,965Rent and utilities expense 148,789 Restaurant and franchise sales revenue 732,391 Prepaid expenses and other current assets 320,480 Retained earnings 40,940 9,527 9,637 Salaries and benefits expense Short-term notes receivable Unearned revenue 1598,149 280,215 6,106 4,257
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Related Book For
Financial Accounting
ISBN: 978-1259222139
9th edition
Authors: Robert Libby, Patricia Libby, Frank Hodge
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