Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A Read aloud 3. Adjusted trial balance columns567380 The June 30, 2020, unadjusted trial balance for Trenton Consulting after its first year of operations follows:
A Read aloud 3. Adjusted trial balance columns567380 The June 30, 2020, unadjusted trial balance for Trenton Consulting after its first year of operations follows: Trenton Coming Thal Balance PIS 5 Trenton Consulting Undsted The Balance 30, 2020 Unadjusted Trial Balance Account Dr. Cash 6.50 8 Accounts receivable 2,900 9 Prepaid rent 3.660 10 Equipment 2.600 11 Accounts payable 1.730 12 Toni Trento, capital 26.650 13 Toni Trenton, withdrawal 6,880 14 Consulting revenue 30,200 15 Wages expense 24.920 16 Insurance expense 1,620 17 Rent expense 8.320 18 Total 58.580 38,580 Required 1. Enter the unadjusted trial balance onto a work sheet. 2. Using the following additional information, enter the adjustments onto the work sheet: Annual depreciation on the equipment is $1,500. b. The balance in the Prepaid Rent account is for six months of rent commencing March 1, 2020. c. Unpaid and unrecorded wages at June 30 totalled 83.200. d. Accrued revenues at June 30 totalled $4,100 3. Complete the work sheet. 4. Calculate the balance in the capital account as it would appear on the June 30, 2020, balance sheet
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started