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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
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 Account Unadjusted Trial Balance Debit Credit Cash Accounts receivable Prepaid rent Equipment Accounts payable $ 590 2,450 3,120 7,700 $ 1,640 Toni Trenton, capital 21,870 Toni Trenton, withdrawals. 5,980 Consulting revenue 29,300 Wages expense 24,020 Insurance expense Rent expense 1,530 7,420 Totals $ 52,810 $52,810 Additional information: a. Annual depreciation on the equipment is $1,050. 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 $2,300. d. Accrued revenues at June 30 totalled $3,200. Required: 1.-3. Use the above information to complete the work sheet. TRENTON CONSULTING Work Sheet For Year Ended June 30, 2020 Balance Sheet & Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Statement of Changes in Equity Account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash $ 590 $ 590 $ 590 Accounts receivable 2,450 Prepaid rent 3,120 Equipment 7,700 This is a numeric cell, so please enter numbers only. Accounts payable 1,640 Toni Trenton, capital 21,870 Toni Trenton, withdrawals 5,980 Consulting revenue 29,300 Wages expense 24,020 Insurance expense 1,530 Rent expense Totals 7.420 $ 52,810 $ 52,810 Depreciation expense Accumulated depreciation, equip. Wages payable Totals Totals $ 0 $ 0 $ 590 $ 0 $ 0 $ 0 $ 590 $ 0 4. Calculate the balance in the capital account as it would appear on the June 30, 2020, balance sheet. Balance in the capital account $ 0 $ 0 $ 590 $ 0
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