Question

Gibson Company's adjusted balances at December 31, 2015 (listed alphabetically) were: Equipment Office ExpensesService Revenue 2,532.200 624,250 91.830 331.040 Accounts RecevableIncome Tax Expense 7,200 13,800 222,200 Accumulated Depreciation- Income Tax Payable Rent Expense Supplies Expense ent 19,700 3,310 132.240 31,060 Interest Expense: Retained Earning, Unearned Revenueta as 165,000 17.400 24,500 Salaries and Wages Expense Common Stock Land Utlities Expense 240.000 70.000 1,760,000 24.750 Notes Payable Cong term) Depreciation Expense 192.000 Gibson brepared bus did not yet pes 1 Drapare an adjusted trial balance listing the acounts in groper arder s: Decamier 31 018 taing tne t additionai adjusting jounal entres (AUEs) for 34 000 of depreciation and $26.200 of income taxes Required adators: adjusting journal entries into aocount. Solve for me"?"η Re:red Earnings. GIB SON CON SULTANTS, INC Adjusted Trial Balance Account Titles Debit Credit

Answer 1

Adjusted trial balance

	Debit	Credit
Cash	165000
Account receivable	222200
Supplies	13800
Prepaid rent	7200
Land	70000
Equipment	331040
Accumulated depreciation-equipment		24300
Account payable		91830
Income tax payable		29510
Unearned revenue		24500
Notes payable		192000
Common Stock		240000
Retained earnings		285600
service revenue		2532000
Office expense	624250
rent expense	132240
supplies expense	31060
Interest expense	17400
Salaries expense	1750000
Utilities expense	24750
Depreciation expense	4600
Income tax expense	26200
Total	3419740	3419740