Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Using the information presented below, prepare in proper formatfor the year ending December 31, 2020: Lance Landscaping Ltd. Adjusted Trial Balance December 31, 2020 Account
Using the information presented below, prepare in proper formatfor the year ending December 31, 2020:
Lance Landscaping Ltd.
Adjusted Trial Balance
December 31, 2020
Account Name | Debit | Credit |
|
|
|
Cash | 3,300 |
|
Accounts Receivable | 1,800 |
|
Prepaid Insurance | 1,500 |
|
Supplies | 4,200 |
|
Machine | 30,000 |
|
Accumulated Depreciation |
| 1,000 |
AccountsPayable |
| 900 |
Unearned Revenue |
| 1,900 |
Common Stock |
| 34,000 |
Retained Earnings |
| 3,400 |
Dividends | 1,200 |
|
Service Revenue |
| 4,700 |
Salaries Expense | 2,500 |
|
Supplies Expense | 600 |
|
Advertising Expense | 300 |
|
Depreciation Expense | 500 |
|
Total | 45,900 | 45,900 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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