Question

Required information On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $ 24,400 5,800 3,700 56,000 $ 3,800 71,000 15, 100 $ 89,900 $ 89,900 During January 2021, the following transactions occur: January 2 Purchase rental space for one year in advance, $7,800 ($650/month). January 9 Purchase additional supplies on account, $4,100. January 13 Provide services to customers on account, $26,100. January 17 Receive cash in advance from customers for services to be provided in the future, $4,300. January 20 Pay cash for salaries, $12,100. January 22 Receive cash on accounts receivable, $24,700. January 29 Pay cash on accounts payable, $4,600. 3. Prepare an adjusted trial balance as of January 31, 2021. DYNAMITE FIREWORKS Adjusted Trial Balance January 31, 2021 Debit Accounts Credit Cash Accounts Payable Prepaid Rent Land Totals $ 0 $

Answer 1

Credit Dynamite Fireworks Adjusted Trial Balance January 31,2021. Accounts Debit Cash $ 28,900 Accounts Receivable $ 7,200 Supplies $ 3,400 Prepaid Rent $ 7,150 land $ 56,000 Accounts Payable Deferred Revenue Salaries Payable Common Stock Retained Earnings Service Revenue Salaries Expense $ 17,480 Supplies Expense $ 4,400 Rent Expense $ 650 $ 3,300 $ 675 $ 5,380 $ 71,000 $ 15,100 $ 29,725 Totals $ 125,180 $125,180 Note : Please comment down for any further clarifications