Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Home Depot, Inc.'s trial balance as of December 31, 2023, is as follows: Account Debit ($) Credit ($) Cash 2,500,000 Accounts Receivable 5,000,000 Inventory

The Home Depot, Inc.'s trial balance as of December 31, 2023, is as follows:

Account

Debit ($)

Credit ($)

Cash

2,500,000


Accounts Receivable

5,000,000


Inventory

4,000,000


Equipment

16,000,000


Accumulated Depreciation


10,000,000

Accounts Payable


6,000,000

Notes Payable


16,000,000

Common Stock


15,000,000

Retained Earnings


7,000,000

Sales Revenue


28,000,000

Cost of Goods Sold

18,000,000


Salaries Expense

5,000,000


Rent Expense

2,200,000


Prepare the adjusted trial balance for The Home Depot, Inc. as of December 31, 2023.

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

Financial Accounting Tools for Business Decision Making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

7th Canadian edition

1119368456, 978-1119211587, 1119211581, 978-1119320623, 978-1119368458

More Books

Students also viewed these Accounting questions

Question

Write a short paper on Cyber-attacks

Answered: 1 week ago