Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following is information from Crystal Company's adjusted trial balance at December 31, 2021: Debit Credit Cash $75,000 Notes receivable 100,000 Merchandise inventory 72,000 Equipment

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The following is information from Crystal Company's adjusted trial balance at December 31, 2021: Debit Credit Cash $75,000 Notes receivable 100,000 Merchandise inventory 72,000 Equipment 438,600 Accumulated depreciation-equipment $131,580 Unearned revenue 8,800 Notes payable 151,780 L. Crystal, capital 235,000 L. Crystal, drawings 160,000 Interest revenue 10,000 Rent revenue 24,000 Sales 1,980,000 Advertising expense 53,000 Cost of goods sold 850.000 Depreciation expense 43,860 Freight out 23,000 Insurance expense 15,000 Interest expense 11,000 lus.com/courses/28010/assignments/2791324?module item_id-TUOZA Cry , caprur wo L. Crystal, drawings 160,000 Interest revenue 10,000 Rent revenue 24,000 Sales 1,980,000 53,000 Advertising expense Cost of goods sold 850,000 Depreciation expense 43,860 Freight out 23,000 Insurance expense 15,000 Interest expense 11,000 Salaries expense 630,000 Sales discounts 9,700 Sales returns and allowances 60,000 $2,541,160 $2,541,160 lus.com/courses/28010/assignments/2791324?module item_id-TUOZA Cry , caprur wo L. Crystal, drawings 160,000 Interest revenue 10,000 Rent revenue 24,000 Sales 1,980,000 53,000 Advertising expense Cost of goods sold 850,000 Depreciation expense 43,860 Freight out 23,000 Insurance expense 15,000 Interest expense 11,000 Salaries expense 630,000 Sales discounts 9,700 Sales returns and allowances 60,000 $2,541,160 $2,541,160 010/assignments/2791324?module_item_id=10066242 CRYSTAL COMPANY Post-closing Trial Balance December 31, 2021 Debit Credit Accumulated Depreciation Equipment Total

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

Step: 3

blur-text-image

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

Accounting and auditing research tools and strategies

Authors: Thomas Weirich, Thomas Pearson, Natalie Tatiana

8th edition

9781118806487, 1118027078, 1118806484, 978-1118027073

More Books

Students also viewed these Accounting questions

Question

16-10. How can factoring help a company manage its cash flow?

Answered: 1 week ago

Question

Explain the causes of indiscipline.

Answered: 1 week ago

Question

Define self-esteem and discuss its impact on your life.

Answered: 1 week ago

Question

Discuss how selfesteem is developed.

Answered: 1 week ago