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eith Williams and Brian Adams were students when they formed a partnership several years ago for a part-time business called Music Works. Adjusted trial balance
eith Williams and Brian Adams were students when they formed a partnership several years ago for a part-time business called Music Works. Adjusted trial balance information for the year ended December 31, 2023, appears below. Account Balance* Account Balance* Accounts payable $ 11,100 Keith Williams, capital** $ 44,300 Accumulated depreciation 91,000 Keith Williams, withdrawals 66,000 Brian Adams, capital** 38,000 Note payable, due May 2025*** 152,000 Brian Adams, withdrawals 76,000 Office supplies 32,000 Cash 227,200 Revenues 512,000 Equipment 332,000 Utilities payable 2,800 Expenses 118,000 *Assume all account balances are normal. **The partners made no investments during the year. ***$56,000
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