Nash's Trading Post, LLC reports the following ledger account balances at June 30, 2022: Cash $1762...
Nash's Trading Post, LLC reports the following ledger account balances at June 30, 2022: Cash $1762 Accounts receivable 2798 Inventory 3724 Prepaid rent 96 Equipment 300 Accumulated depreciation-equipment 62 Accounts payable 892 Unearned rent revenue 132 Common stock 216 Retained earnings 6710 Service revenue 378 Interest revenue 66 Salaries and wages expense 170 Insurance expense 88 Assuming that all of the accounts have normal balances, what are total credits on the company’s trial balance at June 30, 2022? $8394
Homework Answers
| Accounts | Credit ($) |
| Accumulated Depreciation - Equipment | 62 |
| Accounts payable | 892 |
| Unearned rent revenue | 132 |
| Common stock | 216 |
| Retained earnings | 6,710 |
| Service revenue | 378 |
| Interest revenue | 66 |
| Total Credit Balance | 8,456 |
| The Total Credit Balance on June 30, 2022 will be $8,456 |
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Nash's Trading Post, LLC reports the following ledger account
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The Nash's Trading Post, LLC purchased $6290 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $1110 on hand. The adjustment that should be made by the company on June 30 is: increase Supplies, $1110; decrease Supplies Expense, $1110. increase Supplies Expense, $1110; decrease Supplies, $1110. increase Supplies Expense, $5180; decrease Supplies, $5180. increase Supplies, $5180; decrease Supplies Expense, $5180.
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