Question
Adjusted trial balance construction An alphabetical list of open accounts for Geronimo, Inc. as of and for the month ended January 31, 2023, is given
Adjusted trial balance construction
An alphabetical list of open accounts for Geronimo, Inc. as of and for the month ended January 31, 2023, is given on the following page, with normal balances given for each account. You are to re-construct this list into an adjusted trial balance on the second page following. Cash is given as an example and is the first of the current assets.
required:
Accounts are to be shown on the adjusted trial balance in the following order:
Current assets
Long term investments (if any)
Property, plant and equipment
Intangible assets (if any)
Current liabilities
Long term debt
Equity accounts
Revenues
Expenses
Other revenues and gains
Other expenses and losses
Income taxes
Adjusted trial balance construction An alphabetical list of open accounts for Geronimo, Inc. as of and for the month ended January 31, 2023, is given on the following page, with normal balances given for each account. You are to re-construct this list into an adjusted trial balance on the second page following. Cash is given as an example and is the first of the current assets. Accounts are to be shown on the adjusted trial balance in the following order: -Current assets Long term investments (if any) Property, plant and equipment Intangible assets (if any Current liabilities- Long term debt - L Equity accounts -Revenues -Expenses Other revenues and gains - -0 Other expenses and losses Income taxes
Step by Step Solution
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There are 3 Steps involved in it
Step: 1
To construct an adjusted trial balance we will list accounts in the order given along with their balances from the alphabetical list of open accounts ensuring that we place each balance in the appropr...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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