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Sutton Pond Apartments Inc.'s unadjusted and adjusted trial balance at April 30, 2020, follow (Click the icon to view the unadjusted and adjusted trial
Sutton Pond Apartments Inc.'s unadjusted and adjusted trial balance at April 30, 2020, follow (Click the icon to view the unadjusted and adjusted trial balances.) Requirements: 1. Make the adjusting entries that account for the differences between the two trial balances 2. Compute Sutton Pond Apartments Inc.'s total assets, total liabilities, total equity, and net income. Prove your answer with the accounting equation Requirement 1. Make the adjusting entries that account for the differences between the two trial balances The first difference occurs in the Accounts Receivable account. Record the adjustment to Accounts Receivable and the rolated account. (Record debits first, then credits. Enter explanations on the s last line.) Date April 30 Accounts Debit Credit The second difference occurs in the Interest Receivable account. Record the adjustment to Interest Receivable and the related account Date: April 30 Accounts Debit Credit The third difference occurs in the Supplies account Record the adjustment to Supplies and the related account Date April 30 Accounts Debit Credit Date Accounts Debit Credit April 301 The second difference occurs in the Interest Receivable account. Record the adjustment to Interest Receivable and the related account Date: Accounts Debit Credit April 30 The third difference occurs in the Supplies account. Record the adjustment to Supplies and the related account. Date: April 30 Accounts Debit Credit 4 The fourth difference occurs in the Prepaid Insurance account. Record the adjustment to Prepaid Insurance and the related account Date Accounts Debit Credit April 30 The fifth difference occurs in the Accumulated Depreciation account. Record the adjustment to Accumulated Depreciation and the related account Date April 30 Accounts Debit Credit The sixth difference occurs in the Wages Payable account. Record the adjustment to Wages Payable and the related account. Date April 30 Accounts Debit Credit The sixth difference occurs in the Wages Payable account. Record the adjustment to Wages Payable and the related account. Date April 30 Accounts Debit Credit The seventh difference occurs in the Unearned Rental Revenue account. Record the adjustment to Unearned Rental Revenue and the related account. Date April 30 Accounts Debit Credit Requirement 2. Compute Sutton Pond Apartments Inc.'s total assets, total liabilities, total equity, and net income. Prove your answer with the accounting equation Use the adjusted trial balance provided to compute Sutton Pond's total assets, total liabilities, total equity, and net income Total Assets.. Total Liabilities... Total Shareholders' Equity...... The seventh difference occurs in the Unearned Rental Revenue account. Record the adjustment to Unearned Rental Revenue and the related account Date Accounts Debit Credit April 30 Requirement 2. Compute Sutton Pond Apartments Inc.'s total assets, total liabilities, total equity, and net income. Prove your answer with the accounting equation Use the adjusted trial balance provided to compute Sutton Pond's total assets, total liabilities, total equity, and net income Total Assets.. Total Liabilities Total Shareholders' Equity. Net Income... To prove your answer, use the accounting equation of Assets Liabilities Shareholders' Equity, Complete the equation to prove your answer Total Assets Total Liabilities 4 Total Shareholder's Equity
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