Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the Adjusted Trial Balance, calculate the total assets, liabilities, common stock, dividends, revenues, and expenses. Enter those amounts in the expanded accounting equation. SMART

Using the Adjusted Trial Balance, calculate the total assets, liabilities, common stock, dividends, revenues, and expenses. Enter those amounts in the expanded accounting equation.

image text in transcribed

image text in transcribed

SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit Cash 17,300 Accounts Receivable 9,500 Office Supplies 200 Prepaid Rent 11,500 Furniture 20,100 Accumulated Depreciation--Furniture 6,900 Accounts Payable 2,300 Salaries Payable 500 Interest Payable 300 Unearned Revenue 5,700 Notes Payable 8,000 Common Stock 63,600 Dividends 29,300 Service Revenue 11,500 Depreciation Expense--Furniture 2,300 Interest Expense 300 Rent Expense 3,400 Salaries Expense 4,000 Supplies Expense 900 Total 98,800 98,800 Assets Liabilities Common Stock Dividends Revenues Expenses

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_2

Step: 3

blur-text-image_3

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

Managerial Accounting

Authors: Ronald W Hilton

7th Edition

0073022853, 978-0073022857

More Books

Students also viewed these Accounting questions