Question

#2 GENERAL LEDGER LIABILITIES OWNER'S EQUITY Un Bal 10,000 Accounts Payable 3.300 Un Bal M. Capital 22,100 Un Bal Un Ball M. Withdrawals 5,200 ACCOUNTS REC Salaries Payable Un Bal 26,900 Legal Fees Revenues 54,400 Un Bal PREPAID INSURANCE Un Ball 1,800 Uneared Legal Fees Utilities Expense S.000 Un Bal Office Supplies 2,000 Office Supplies Eup Office Equipment 5,000 Salaries Expense 26,000 Un Ball Un Bal Accumulated Depr. OE 1,500 Un Bal Insurance Expense Depreciation Expense 13 Compute balances of ledger accounts if needed, and write the balance on the correct side. 14 Prepare Adjusted Trial Balance below DEBIT CREDIT

Answer 1

An adjusted trial balance is a record of all company accounts that will appear on the financial accounts after year ended adjusted journal entries has been made. The adjusted trial balance is not final account its only statement which make only debit and credit total at the end of financial year before preparing financial statement.

Adjusted Trial Balance

Account	Debit	Credit
Cash	$ 10,000
Account receivable	$ 26,900
Pre-paid insurance	$ 1,800
Office supplies	$ 2,000
Office equipment	$ 5,000
Accumulated depreciation		$ 1,500
Account Payable		$ 3,300
Unearned legal fees		$ 600
M. Capital		$22,100
M. withdrawals	$ 5,200
Legal fees revenues		$ 54,400
Utilities expenses	$ 5,000
Salary expenses	$ 26,000
Total	$ 81,900	$ 81,900

Explanation:

1. Prepaid insurance called asset which is paid in advanced.
2. Accumulated depreciation is total depreciation from date of purchase and this account show credit balance.
3. Account receivable, office supplies, office equipment are the part of assets which was show debit balances.
4. Capital account show credit balance and withdrawal account debit balance.