The account balances (after adjustments) from the general ledger of Winterholt Company at September 30, 2021, follow
Question:
The account balances (after adjustments) from the general ledger of Winterholt Company at September 30, 2021, follow in alphabetical order. All accounts have normal balances.
a. Prepare an adjusted trial balance.
b. Beside each account, identify whether it is an asset (A), liability (L), capital (C), drawing (D), revenue (R), or expense (E).
c. Beside each account, identify whether it should be included on the income statement (IS), statement of owner?s equity (OE), or balance sheet (BS).
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Depreciation expense Equipment Prepaid rent Rent expense Salaries expense Salaries payable Service revenue Unearned revenue W. Winterholt, capital W. Winterholt, drawings $ 1,560 12,215 875 48,450 840 16,150 21,000 $ 2,890 6,050 6,400 1,100 3,100 29,800 780
Step by Step Answer:
Debit Credit Cash Accounts receivable Prepaid rent Equipment Accumulated depreciatio...View the full answer
Accounting Principles Volume 1
ISBN: 978-1119502425
8th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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