Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 1 , 2 0 2 4 , the general ledger of 3 D Family Fireworks includes the following account balances: AccountsDebitCreditCash$ 2 6

On January 1,2024, the general ledger of 3D Family Fireworks includes the following account balances: AccountsDebitCreditCash$26,900 Accounts Receivable15,100 Allowance for Uncollectible Accounts $1,500Supplies4,000 Notes Receivable (6%, due in 2 years)19,000 Land80,400 Accounts Payable 11,000Common Stock 99,000Retained Earnings 33,900Totals$145,400$145,400 During January 2024, the following transactions occur: January 2Provide services to customers for cash, $50,100.January 6Provide services to customers on account, $87,400.January 15Write off accounts receivable as uncollectible, $3,500.(Assume the company uses the allowance method)January 20Pay cash for salaries, $32,900.January 22Receive cash on accounts receivable, $85,000.January 25Pay cash on accounts payable, $7,000.January 30Pay cash for utilities during January, $15,200.3. Prepare an adjusted trial balance as of January 31,2024, after updating beginning balances (above) for transactions during January (requirement 1) and adjusting entries at the end of January (requirement 2).
Can you make Adjusted Trial Balance.

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

Cost Accounting Concepts And Applications For Managerial Decision Making

Authors: Ralph S. Polimeni, James A. Cashin, Frank J. Fabozzi, Arthur H. Adelberg

2nd Edition

0070103100, 978-0070103108

More Books

Students also viewed these Accounting questions

Question

20. What do you want them to do? (what actions should they take)?

Answered: 1 week ago