S. Below is Bill Brady Law's adjusted trial balance at the end of its annual accounting period. Bill Brady Trial Balance Law December 31, 2020
S. Below is Bill Brady Law's adjusted trial balance at the end of its annual accounting period.
Bill Brady Trial Balance Law December 31, 2020
| ||
| Debit | Credit |
Cash | $13,000 |
|
Accounts receivable | $20,000 |
|
Office Supplies | $10,300 |
|
Office equipment | $40,500 |
|
Accumulated depreciation, office |
| $22,000 |
Long-term notes payable |
| $60,000 |
Bill Brady, capital |
| $11,000 |
Bill Brady, withdrawals | $10,000 |
|
Service Revenue |
| $51,100 |
Salary expense | $30,000 |
|
Rent expense | $12,300 |
|
Depreciation expenses, office equipment | $1,000 |
|
Advertising expense | $4,000 |
|
Office supplies expense | $3,000 | $2,500 |
Total | $144,100 | $144,100 |
Prepare the necessary entries in the Companys Journal on Dec. 31, 2020.
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