Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3, P4, P5, P6 [The following information applies to the
Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3, P4, P5, P6 [The following information applies to the questions displayed below) A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31. The last two columns contain the adjusted trial balance as of the same date. Unadjusted Trial Balance $ 97,940 14,000 17,800 19,240 83,000 $ 24,000 8,100 Cash Accounts receivable Office Supplies Prepaid insurance Office equipment Accum. Depreciation-office equip. Accounts payable Interest payable Salaries payable Unearned consulting fees Long-term notes payable 1. Logan, Capital 3. Logan, withdrawals Consulting fees earned Depreciation expense-Office equip. Salaries expense Interest expense Insurance expense Rent expense office supplies expense Advertising expense Totals 24,000 56,000 46,000 Adjusted Trial Balance $ 97,940 21, eee 9,500 2,960 83,000 $ 30,eee 22,000 2,500 9,000 16,000 56,000 46,000 7,000 183,000 6,000 76,490 3,800 7,280 14,820 8,300 26,410 $364,500 5364,500 7,000 168,000 67,490 1,300 14,820 0 12.510 5 326,100 5326,100
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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