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WILDHORSE COMPANY Trial Balance August 31, 2020 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $10,100 $10,100 Accounts Receivable 8,800 9,800 Supplies 2,500 600

WILDHORSE COMPANY Trial Balance August 31, 2020

Before Adjustment

After Adjustment

Dr.

Cr.

Dr.

Cr.

Cash $10,100 $10,100
Accounts Receivable 8,800 9,800
Supplies 2,500 600
Prepaid Insurance 3,700 2,700
Equipment 14,900 14,900
Accumulated Depreciation-Equipment $ 3,700 $ 4,600
Accounts Payable 5,700 5,700
Salaries and Wages Payable 0 1,500
Unearned Rent Revenue 1,400 800
Owners Capital 15,900 15,900
Service Revenue 34,100 35,100
Rent Revenue 10,900 11,500
Salaries and Wages Expense 16,900 18,400
Supplies Expense 0 1,900
Rent Expense 14,800 14,800
Insurance Expense 0 1,000
Depreciation Expense 0 900
$71,700 $71,700 $75,100 $75,100

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Prepare the balance sheet at August 31. (List Assets in order of liquidity.) WILDHORSE COMPANY Balance Sheet For the Year Ended August 31, 2020 v Assets Cash 10100 Accounts Receivable 9800 Supplies Prepaid Insurance Equipment Less . Accumulated Depreciation-Equipment 600 5700 14900 4600 10300 Total Assets 15900 Liabilities and Owner's Equity Liabilities Accounts Payable Salaries and Wages Payable Notes Payable 5700 Total Current Liabilities Long-term Liabilities Total Liabilities and Owner's Equityv

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