Answered step by step
Verified Expert Solution
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.
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 Account Title Debit Credit Cash 19,200 Accounts Receivable 10,600 Office Supplies 200 Prepaid Rent 12,800 Furniture 22,400 Accumulated Depreciation--Furniture 7,600 Accounts Payable 2.500 Salaries Payable 600 Interest Payable 300 Unearned Revenue 6,400 Notes Payable 8.900 Bright, Capital 70,700 Bright, Withdrawals 32,600 Service Revenue 12,800 Depreciation Expense--Furniture 2,500 Interest Expense 300 Rent Expense 3,800 Unearned Revenue 6,400 Notes Payable 8,900 Bright, Capital 70,700 Bright, Withdrawals 32,600 Service Revenue 12,800 Depreciation Expense--Furniture 2,500 Interest Expense 300 Rent Expense 3,800 Salaries Expense 4,400 Supplies Expense 1,000 Total 109,800 109,800 Assets Liabilities + Owner, Capital Owner, Withdrawals - Revenues Expenses + +
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started