Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Swifty Company ended its fiscal year on July 31, 2022. The companys adjusted trial balance as of the end of its fiscal year is shown

Swifty Company ended its fiscal year on July 31, 2022. The companys adjusted trial balance as of the end of its fiscal year is shown as follows.

Swifty Company Adjusted Trial Balance July 31, 2022

No.

Account Titles

Debit

Credit

101 Cash

$8,650

112 Accounts Receivable

9,000

157 Equipment

16,200

158 Accumulated DepreciationEquip.

$8,000

201 Accounts Payable

4,000

208 Unearned Rent Revenue

2,200

311 Common Stock

17,350

320 Retained Earnings 27,000
332 Dividends

16,500

400 Service Revenue

63,000

429 Rent Revenue

7,000

711 Depreciation Expense

7,000

726 Salaries and Wages Expense

56,200

732 Utilities Expense

15,000

$128,550

$128,550

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_2

Step: 3

blur-text-image_3

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

College Accounting A Practical Approach Chapters 1-15

Authors: Jeffrey Slater

7th Edition

0130954888, 978-0130954886

More Books

Students also viewed these Accounting questions

Question

x-3+1, x23 Let f(x) = -*+3, * Answered: 1 week ago

Answered: 1 week ago