Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prepare a trial balance at July 31. (Please explan and show all work) What am I missing? It says my answer is not complete. 11
Prepare a trial balance at July 31.
11 Required information (The folowing information applies to the questions displayed below Part 4 of 6 Athletic Performance Company (APC) was incorporated as a private company. The company's accounts included the following at July 1 1,53 noires Aeeounts Payable Baildings # ,600 239,00 12,850 Cnon Stoek tquipent tand Notes Payale clong-ters) Retained Earnings Supplies 20,250 40,250 8.250 During the month of July, the company had the following activities a ssued 2.600 shares of common stock for $260,000 cash. b. Borrowed $41,000 cash from a local bank, payable in two years. c Bought a building for $182,500; paid $49,500 in cash and signed a theee-year note for the balance. d Paid cash for equipment that cost $166,000. e Purchased supplies for $17,400 on account 4 Prepare a trial balance at July 31 Answer is not complete. ATHLETIC PERFORMANCE COMPANY Trial Balance Credit Debit 24000 Accounts Payable 391 500 Buildings 98 350 Cash 570,000 Common Stock Equipment Land 186 250 s 106 500 214 250 Notes Payable (long-em) Retained Eamings 25.650 Supples S808 250 s 808 250 Totals Next> of 13 13 12 (Please explan and show all work)
What am I missing? It says my answer is not complete.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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