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COMPREHENSIVE PROBLEM: Accounting Cycle for Gymnastic Stars Coaching (GSC) Below is an unadjusted trial balance for the year 2021 for Gymnastic Stars Coaching, INC
COMPREHENSIVE PROBLEM: Accounting Cycle for Gymnastic Stars Coaching (GSC) Below is an unadjusted trial balance for the year 2021 for Gymnastic Stars Coaching, INC (GSC). GSC provides coaching and training for gymnasts preparing them for competition. GSC follows a calendar Jan - Dec year. Good news! All of the "initial transactions" have already been posted. Use the Unadjusted Trial Balance below to complete the TB worksheet and financials statements. Unadjusted Unadjusted ACCOUNT Debit Credit CASH 17 ACOUNTS 6 RECEIVABLE PREPAID RENT 9 EQUIPMENT 55 ACCUMULATED DEPRECIATION ACCOUNTS PAYABLE 7 INTEREST PAYABLE WAGES PAYABLE UNEARNED REVENUE 26 LOAN PAYABLE 40 COMMON STOCK 5 RETAINED EARNINGS 4 DIVIDENDS COACHING REVENUE 101 DEPRECIATION EXPENSE INTEREST EXPENSE RENT EXPENSE SUPPLIES EXPENSE 33 33 13 UTILITIES EXPENSE 6 WAGES EXPENSE 39 TOTALS $183 $183 You should fill out your preprinted or premade unadjusted TB worksheet and T accounts before considering the additional information and necessary AJE's below.
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