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Chapter 1 Role and Purpose of Accounting Information Systems 19 The accounting information system of RRP Corporation revealed the following account balances at the end
Chapter 1 Role and Purpose of Accounting Information Systems 19 The accounting information system of RRP Corporation revealed the following account balances at the end of December 2013: each account has a normal balance Accounts payable Accounts receivable Accumulated depreciation-equipment Additional paid-in capital Cash Common stock Cost of goods sold Deferred service revenue Depreciation expense Equipment Inventory S 5,300 6,100 5,800 6,300 7,700 6,600 4,600 9,100 8,000 9,300 6,400 15,860 6,810 470 Notes payable Retained earnings Sales discounts Treasury stock Wages expense 1,700 6,000 a. Use Excel to prepare a trial balance in good form based on the balances provided. (Check figure: $53,870. b. Use appropriate Excel formulas to determine: i. The average balance of all accounts with a debit balance ii. The average balance of all accounts with a credit balance ili. The largest and smallest balances of all accounts with a debit balance iv. The largest and smallest balances of all accounts with a credit balance
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