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Chevron Corporations trial balance as of December 31, 2023, is as follows: Account Debit ($) Credit ($) Cash 350,000 Accounts Receivable 500,000 Inventory 550,000 Equipment
Chevron Corporation’s trial balance as of December 31, 2023, is as follows:
Account | Debit ($) | Credit ($) |
Cash | 350,000 | |
Accounts Receivable | 500,000 | |
Inventory | 550,000 | |
Equipment | 3,500,000 | |
Accumulated Depreciation | 1,250,000 | |
Accounts Payable | 500,000 | |
Notes Payable | 1,550,000 | |
Common Stock | 2,500,000 | |
Retained Earnings | 350,000 | |
Sales Revenue | 5,500,000 | |
Cost of Goods Sold | 3,500,000 | |
Salaries Expense | 650,000 | |
Rent Expense | 250,000 |
Prepare the adjusted trial balance for Chevron Corporation as of December 31, 2023.
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