Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the unadjusted trial balance, calculate the total assets, liabilities, common stock, dividends, revenues, and expenses. Enter those amounts in the expanded accounting equation. SMART

image text in transcribedimage text in transcribed

Using the unadjusted trial balance, calculate the total assets, liabilities, common stock, dividends, revenues, and expenses. Enter those amounts in the expanded accounting equation. SMART TOUCH LEARNING Unadjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit Cash 38,100 Accounts Receivable 35,200 Office Supplies 17,600 Prepaid Rent 23,400 Prepaid Insurance 55,700 Furniture 62,000 Accumulated Depreciation - Furniture 26,400 Accounts Payable 41,000 Unearned Revenue 44,000 Notes Payable 32,200 Common Stock 94,200 Dividends 26,400 Accumulated Depreciation - Furniture 26,400 Accounts Payable 41,000 Unearned Revenue 44,000 Notes Payable 32,200 Common Stock 94,200 Dividends 26,400 Service Revenue 55,700 Rent Expense 14,600 Salaries Expense 20,500 Total 293,500 293,500 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

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

Contemporary Auditing

Authors: Michael C. Knapp

11th edition

1305970810, 9781337514811, 1337514810, 978-1305970816

More Books

Students also viewed these Accounting questions

Question

List the five steps in the message-sending process.

Answered: 1 week ago

Question

List and explain the four steps in the communication process.

Answered: 1 week ago

Question

Describe how communication flows through organizations.

Answered: 1 week ago