Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

From the alphabetized account information above, select the best representation of what a Trial Balance would look like using this information. Assume all accounts have

image text in transcribed

From the alphabetized account information above, select the best representation of what a Trial Balance would look like using this information. Assume all accounts have normal balances.

Trial Balance (A)

Cash

$50,480

Accounts Receivable

45,333

Supplies

6,800

Equipment

33,500

Building

156,000

Land

18,000

Accounts Payable

3,600

Notes Payable

85,500

Common Stock

110,000

Retained Earnings

60,606

Dividends

18,000

Fees Earned Revenue

225,430

Salaries Expense

151,900

Miscellaneous Expense

5,123

$485,136

$485,136

Trial Balance (B)

Cash

$50,480

Fees Earned Revenue

Accounts Receivable

45,333

$225,430

Supplies

6,800

Equipment

33,500

Building

156,000

Land

18,000

Accounts Payable

3,600

Notes Payable

85,500

Common Stock

110,000

Retained Earnings

60,606

Dividends

18,000

Salaries Expense

151,900

Miscellaneous Expense

5,123

$485,136

$485,136

Trial Balance (C)

Cash

$50,480

Accounts Receivable

45,333

Supplies

6,800

Equipment

33,500

Building

156,000

Land

18,000

Common Stock

Accounts Payable

110,000

3,600

Notes Payable

85,500

Retained Earnings

60,606

Dividends

18,000

Fees Earned Revenue

225,430

Salaries Expense

151,900

Miscellaneous Expense

5,123

$485,136

$485,136

Trial Balance (D)

Cash

$50,480

Accounts Receivable

45,333

Supplies

6,800

Equipment

33,500

Building

156,000

Land

18,000

Accounts Payable

3,600

Notes Payable

85,500

Common Stock

110,000

Retained Earnings

60,606

Dividends

18,000

Fees Earned Revenue

225,430

Salaries Expense

151,900

Miscellaneous Expense

5,123

Accounts payable Accounts receivable Building Cash Common stock Dividends Equipment Fees earned revenue Land Miscellaneous expense Notes payable Retained earnings Salaries expense Supplies $ 3,600 45,333 156,000 50,480 110,000 18,000 33,500 225,430 18,000 5,123 85,500 60,606 151,900 6,800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Principles

Authors: Nformi Eugene Tawe

1st Edition

3330651032, 978-3330651036

More Books

Students also viewed these Accounting questions

Question

Explain the various methods of job evaluation

Answered: 1 week ago

Question

Differentiate Personnel Management and Human Resource Management

Answered: 1 week ago

Question

Describe the functions of Human resource management

Answered: 1 week ago

Question

Discuss communication challenges in a global environment.

Answered: 1 week ago