Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

prepare the classified balance sheet of Pria's music lessons at december 31,2023. you must compute the ending balance of P. chai, Capital first Adjusted Trial

prepare the classified balance sheet of Pria's music lessons at december 31,2023. you must compute the ending balance of P. chai, Capital first
image text in transcribed
image text in transcribed
image text in transcribed
Adjusted Trial Balance The adjusted tral balance from December 31, 2023, of Pria's Music Lessens follows: (Ctick the icon to view the adjusted trial balance) Prepare the classifed balance sheet of Pria's Music Leswons at December 31, 2003. Uin the report format. You must compute the ending balance of P. Chay, Capial fest Fint, calculate the ending bolance in the Captal account. Begin by determining the formula, and then enter the amounts and calculate the balance, Consibur whether there is a net income of loss. (indicate a loss with a minus slge or parentheses.) \begin{tabular}{|c|c|c|} \hline Account & Debit & Credit \\ \hline Cash & $27,600 & \\ \hline Supplies & 7,500 & \\ \hline Prepaid rent & 3,600 & \\ \hline Instruments & 168,900 & \\ \hline Accumulated amortization-instruments & & 26,050 \\ \hline Accounts payable & & 29,300 \\ \hline Salaries payable & & 3,250 \\ \hline Unearned service revenue & & 17,600 \\ \hline P. Chai, capital & & 153,300 \\ \hline P. Chai, withdrawals & 15,000 & : \\ \hline Service revenue & & 61,000 \\ \hline Salaries expense & 45,200 & \\ \hline Rent expense & 15,650 & \\ \hline Amortization expense -instruments & 1,200 & \\ \hline Supplies expense & 2,650 & \\ \hline Utilities expense & 3,200 & \\ \hline Total & $290,500 & $290,500 \\ \hline \end{tabular}

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

Accounting Principles A Business Perspective Financial Accounting Chapters 9 To 18

Authors: Bill Buxton, Amy Sibiga

1st Edition

1461160863, 978-1461160861

More Books

Students also viewed these Accounting questions

Question

Discuss the legal framework of HRM in Canada.

Answered: 1 week ago