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Prepare an adjusted trial balance at September 30, 2018.
Is the Retained Earnings balance of $99,770 the amount that would be reported on the balance sheet as of September 30, 2018? TIP: The company did not declare a dividend during 2018, but it did earn net income.
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Yes
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No
Homework Answers
a) Trial balance
| Debit | Credit | |
| Cash | 80000 | |
| Account receivable | 66200 | |
| Supplies | 34900 | |
| Equipment | 90400 | |
| Accumulated depreciation | 21200 | |
| Account payable | 38800 | |
| Notes payable | 1470 | |
| Common Stock | 94500 | |
| retained earnings | 99770 | |
| Sales revenue | 324800 | |
| Salaries and wages expense | 128400 | |
| Rent expense | 163900 | |
| Office expense | 6270 | |
| Income tax expense | 10470 | |
| Total | 580540 | 580540 |
Yes have net income = 324800-309040 = 15760
Add Answer to:
Prepare an adjusted trial balance at September 30, 2018.
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Accounts payable
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Income tax payable
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Accounts receivable
8,600
Interest expense
102
Accumulated depreciation—equipment
750
Interest payable
102
Bank loan payable
7,800
Rent expense
1,500
Cash
3,250
Retained earnings
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Common shares
7,000
Salaries expense
13,040
Depreciation expense
750
Salaries payable
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Dividends declared
700
Supplies
1,195
Equipment
15,040
Supplies expense
485
Fees earned
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ccounts from the adjusted trial balance at September 30, 2018,
are listed in alphabetical order below for Ozaki Corp.:
Accounts payable
$4,460
Income tax payable
$200
Accounts receivable
8,600
Interest expense
102
Accumulated depreciation—equipment
750
Interest payable
102
Bank loan payable
7,800
Rent expense
1,500
Cash
3,250
Retained earnings
1,965
Common shares
7,000
Salaries expense
13,040
Depreciation expense
750
Salaries payable
840
Dividends declared
700
Supplies
1,195
Equipment
15,040
Supplies expense
485
Fees earned
22,485
Unearned revenue
480
Income tax...
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