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Edwards Corporation operates hair salons under various brand names. The following is a simplified list of accounts and amounts (in millions) reported in the company's
Edwards Corporation operates hair salons under various brand names. The following is a simplified list of accounts and amounts (in millions) reported in the company's accounts for the year ended June 30, 2019. Accounts Payable Accounts Receivable. Accumulated Amortization Accumulated Depreciation $ 120 66 56 346 Amortization Expense Cash Common Stock Depreciation Expense Equipment Income Tax Expense Interest Expense 3 106 166 71 494 2 1 Notes Payable (long-term) 266 Office Expense 224 Prepaid Rent 69 Rent Expense 308 Retained Earnings 316 Salaries and Wages Expense 489 Salaries and Wages Payable 117 Service Revenue 1,106 Software 381 Supplies 113 Supplies Expense 166 Req 1A Req 1B Prepare an adjusted trial balance at June 30, 2019. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) EDWARDS CORPORATION Adjusted Trial Balance (in millions) Account Titles Debit Credit Cash Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Depreciation Software Required mation Accumulated Depreciation Software Accumulated Amortization Accounts Payable Salaries and Wages Payable Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense Office Expense Supplies Expense Depreciation Expense Interest Expense Amortization Expense Income Tax Expense Yes No Complete this question by entering your answers in the tabs below. Req 1A Req 18 Is the Retained Earnings balance of $316 the amount that would be reported on the balance sheet as of June 30, 2019
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