Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The June 30, 2020, unadjusted trial balance for Trenton Consulting after its first year of operations follows: Trenton Consulting Unadjusted Trial Balance June 30, 2020

image text in transcribed
image text in transcribed
The June 30, 2020, unadjusted trial balance for Trenton Consulting after its first year of operations follows: Trenton Consulting Unadjusted Trial Balance June 30, 2020 Unadjusted Trial Balance Account Debit Credit Cash $ 610 Accounts receivable 2,550 Prepaid rent 3,240 Equipment 7,900 Accounts payable $ 1,660 Toni Trenton, capital 22,710 Toni Trenton, withdrawals 6,180 Consulting revenue 29,500 Wages expense 24,220 Insurance expense 1,550 7,620 Totals $53,870 $53,870 Rent expense Additional information: a. Annual depreciation on the equipment is $1,150, b. The balance in the Prepaid Rent account is for six months of rent commencing March 1, 2020. c. Unpaid and unrecorded wages at June 30 totalled $2,500, d. Accrued revenues at June 30 totalled $3,400, TRENTON CONSULTING Work Sheet For Year Ended June 30, 2020 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet & Statement of Changes in Equity Debit Credit $ 610 Credit Debit Credit Credit Debit Debit $ 610 Account Cash Accounts receivable Prepaid rent Equipment Accounts payable Toni Trenton, capital Toni Trenton, withdrawals Consulting revenue Wigos expono Insurance exponso Rent expense Totals Depreciation expense Accumulated depreciation equip Wages payable Totals Debit Credit $ 610 2,550 3.240 7,900 1,660 22,710 6,180 20.500 24,220 1,550 7,620 $ 53,870 $ 53,870 s 0 $ 0 $ 610S OS 0$ 0 S 610$ Totals $ 0$ OS 610 $ 0

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

Winning Your Audit Prepare Diligently Be Realistic Then Stand Your Ground

Authors: Holmes F. Crouch

2nd Edition

0944817319, 978-0944817315

More Books

Students also viewed these Accounting questions