Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The March 31, 2023, unadjusted trial balance for Silva Rentals after its first year of operations is shown below: Si va Rental s Unachusted rial

The March 31, 2023, unadjusted trial balance for Silva Rentals after its first year of operations is shown below:

Si va Rental s

Unachusted rial balance

March 31, 2023

No.

Account

101 Cash

110 Rent receivable

124 Office supplies

141 Notes receivable, due 2026

161 Furniture

173 Building

183 Land

191 Patent

201 Accounts payable

252 Long-term note payable

  1. Stephen Silva, capital
  2. Stephen Silva, withdrawals

406 rent revenue

620 Office salaries expense

633 Interest expense

655 Advertising expense

673 anitoria expense

690 Utilities expense Totals

Unadjusted Trial

Balance

Dr.

Cn

$ 7,700

31,700

2,600

49,500

16, 700

223,000

44,500

10,300

$ 14,450

182,000

102,500

95,500

335,800

55,500

5,950

15,300

41,700

34,800

$634, 750

$634, 750

Additional information:

  1. It was determined that the balance in the Rent Receivable account at March 31 should be $37,400.
  2. A count of the office supplies showed $2,110 of the balance had been used.
  3. Annual depreciation on the building is $25,700 and $4,200 on the furniture.
  4. The two part-time office staff members each get paid $195 per day, for every day they work in the pay period.

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

Auditing Warehouse Performance

Authors: Kenneth B. Ackerman

1st Edition

0963177680, 978-0963177681

More Books

Students also viewed these Accounting questions

Question

Are there any questions that you want to ask?

Answered: 1 week ago