Question
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 | |||||
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
3rd edition
77639731, 978-0077639730
