Answered step by step
Verified Expert Solution
Link Copied!

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.
(Please explan and show all work)
What am I missing? It says my answer is not complete.
image text in transcribed
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

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

Oil And Gas Industry IRS Audit Technique Guide

Authors: Internal Revenue Service

1st Edition

1304113434, 978-1304113436

More Books

Students also viewed these Accounting questions

Question

what is the mechanism for this reaction aceticacidconc.H2SO4

Answered: 1 week ago