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The following accounts were taken from Henry Company s unadjusted trial balance at December 3 1 , 2 0 2 7 :
The following accounts were taken from Henry Companys
unadjusted trial balance at December :
Accounts payable $
Accounts receivable $
Cash $
Common stock $
Cost of goods sold $
Income tax expense $
Insurance expense $
Inventory $
Land $
Notes payable $
Prepaid insurance $
Rental revenue $
Repair expense $
Retained earnings $at January
Sales revenue $
Supplies $
Trademark $
Wage expense $
Henry Company has not yet recorded adjusting entries
related to the following two items:
$ of supplies were used up during
Henry Company has provided services to a customer
totaling $ as of December However,
the customer has not yet paid Henry Company.
Calculate the total assets reported in Henry Company's
December balance sheet after the appropriate
adjusting entries have been recorded and posted.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Adjusting Entry 1 Supplies Used The 16000 of supplies used up during 2027 should be recogn...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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