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The FUN Toys Company is a publicly traded retailing company that sells videos games and small toys for children ages 2 to 10 years. The
The FUN Toys Company is a publicly traded retailing company that sells videos games and small toys for children ages 2 to 10 years. The fiscal year for the company begins on January 1st and ends on December 31 st. The company closes the books at the end of each quarter. Below is a trial balance that was generated by the accounting department before any adjusting journal entries were made FUN Toys Company Trial Balance At December 31,2014 Unadjusted Trial B alance Debit Credit $ 260,000 17,000 25,000 16,500 $280,000 40,000 7,500 $ 250,000 Cash Accounts Receivable Prepaid Adverti sing Prepaid Insurance Inventor Notes Receivable Supplies Equipment Accumulated Depreciation Building Accounts Payable Unearned Revenu Notes Payable (short-term Notes Payable (long-term) Interest Payable Contributed Capital Retained Earnings Revenue COGS Utilities Expense Advertising Expense Insurance expense Depreciation Expense Interest Expense Wage Expense $ 75,000 $370,000 $ 125,000 $ 40,000 $40,000 $ 200,000 $ 16,788 $ 300,000 $ 327,000 $ 655,700 $ 225,000 28,000 50,000 29,700 44,000 16,788 $120,000 $1.779 488 $ 1.779.488
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