Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Enter the missing balance in the Adjusted Trial Balance, then calculate the total assets, liabilities, common stock, dividends, revenues, and expenses. Enter those amounts in
Enter the missing balance in the Adjusted Trial Balance, then calculate the total assets, liabilities, common stock, dividends, revenues, and expenses. Enter those amounts in the expanded accounting equation.
SMART TOUCH LEARNING | ||
---|---|---|
Adjusted Trial Balance | ||
December 31, 2016 | ||
Balance | ||
Account Title | Debit | Credit |
Cash | 17,600 | |
Accounts Receivable | ||
Office Supplies | 3,100 | |
Prepaid Rent | 11,300 | |
Furniture | 19,600 | |
Accumulated Depreciation--Furniture | 7,200 | |
Accounts Payable | 2,000 | |
Salaries Payable | 1,000 | |
Utilities Payable | 2,000 | |
Unearned Revenue | 6,200 | |
Notes Payable | 8,200 | |
Common Stock | 66,700 | |
Dividends | 24,300 | |
Service Revenue | 10,300 | |
Depreciation Expense--Furniture | 4,100 | |
Utilities Expense | 1,000 | |
Rent Expense | 5,100 | |
Salaries Expense | 6,200 | |
Supplies Expense | 2,000 | |
Total | 103,600 | 103,600 |
Assets | = | Liabilities | + | Common Stock | - | Dividends | + | Revenues | - | Expenses |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started