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E4-2 (Algo) Identifying Adjustments and Preparing Financial Statements from a Trial Balance [LO 4-1, LO 4-4] [The following information applies to the questions displayed
E4-2 (Algo) Identifying Adjustments and Preparing Financial Statements from a Trial Balance [LO 4-1, LO 4-4] [The following information applies to the questions displayed below.] Campbell Containers reported its balance sheet at May 31, 2019. Assume the following alphabetically listed accounts were included in its trial balance immediately prior to preparing the financial statements. Campbell Containers Adjusted Trial Balance Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Depreciation Expense Dividends Equipment Goodwill Income Tax Expense Income Tax Payable Interest Expense Interest Receivable At May 31, 2019 (millions of dollars) Debit Credit $ 3,200 $ 5,300 19,900 5,200 3,000 2,700 200 38,700 4,100 1,050 130 40 1,050 Interest Revenue Notes Payable (long-term) Notes Payable (short-term) 50 8,000 450 Office Expenses 7,570 Prepaid Rent 1,000 Rent Expense 2,800 Repairs and Maintenance Expense 2,200 Retained Earnings 16,920 Salaries and Wages Expense 16,900 Salaries and Wages Payable 2,000 46,000 Service Revenue Supplies Transportation Expense 480 12,200 $ 100,570 $ 100,570
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