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Trial Balance Data: Cash: $50,000 Accounts Receivable: $25,000 Inventory: $40,000 Accounts Payable: $30,000 Capital: $85,000 Requirements: Prepare a trial balance as of December 31, 2023.
Trial Balance Data:
- Cash: $50,000
- Accounts Receivable: $25,000
- Inventory: $40,000
- Accounts Payable: $30,000
- Capital: $85,000
Requirements:
- Prepare a trial balance as of December 31, 2023.
- Ensure the trial balance is balanced.
- Discuss the significance of a balanced trial balance.
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
4th edition
78025524, 978-0078025525
