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Prepare an adjusted trial balance from the following account information, and also considering the adjustment data provided (assume accounts have normal balances). Equipment was recently
Prepare an adjusted trial balance from the following account information, and also considering the adjustment data provided (assume accounts have normal balances). Equipment was recently purchased, so there is neither depreciation expense nor accumulated depreciation.
Accounts Payable 26,000; Accounts Receivable 8,000; Cash 29,000; Common Stock 33,000; Dividends 9,000; Equipment 68,000; Notes Payable (due next month) 29,000; Salaries Expense 42,000; Salaries Payable 2,000; Service Revenue 75,000; Supplies 5,000; Transportation Expense 4,000.
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