Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the adjusted trial balance, calculate the total assets, liabilities, owner capital, owner withdrawals, revenues, and expenses. Enter those amounts in the expanded accounting equation.

image text in transcribed

image text in transcribed

Using the adjusted trial balance, calculate the total assets, liabilities, owner capital, owner withdrawals, revenues, and expenses. Enter those amounts in the expanded accounting equation. SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Balance Debit Credit Account Title Cash 19,300 10,600 Accounts Receivable 200 Office Supplies 12,800 Prepaid Rent 22.500 Furniture 7,700 Accumulated Depreciation--Furniture 2.500 Accounts Payable 600 Salaries Payable 300 Interest Payable 6,400 Unearned Revenue 2:02 Unearned Revenue 6,400 Notes Payable 9,000 Bright, Capital 70,900 Bright Withdrawals 32,700 Service Revenue 12,800 Depreciation Expense--Furniture 2,500 Interest Expense 300 Rent Expense 3,800 Salaries Expense 4,500 1.000 Supplies Expense Total 110,200 110,200 Owner, Withdrawals Revenues -- Expenses Liabilities Assets Owner, Capital --- CHECK

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

Why CISOs Fail Security Audit And Leadership Series

Authors: Barak Engel

2nd Edition

1032299258, 978-1032299259

More Books

Students also viewed these Accounting questions

Question

Identify five strategies to prevent workplace bullying.

Answered: 1 week ago