Preparing a Trial Balance (AP4-1)
Dell Inc. is the world’s largest computer systems company selling directly to customers. Products include desktop computer systems, notebook computers, workstations, network server and storage products, and peripheral hardware and software. The following is a list of accounts and amounts reported in a recent year. The accounts have normal debit or credit balances and the dollars are rounded to the nearest million. Assume the company’s year ended on January 31, 2012.
Accounts Payable | S 8,309 | Marketable Securities (investments) | $ 740 |
Accounts Receivable | 6,443 | Other Assets | 7.821 |
Accrued Expenses Payable | 3.788 | Other Income | 134 |
Accumulated Depreciation | 2,233 | Other Liabilities | 8.234 |
Cash | 8,352 | Property, Plant, and Equipment | 4.510 |
Contributed Capital | 11.189 | Research and Development Expense | 665 |
Cost of Sales | 50.144 | Retained Earnings | ? |
Income Tax Expense | 846 | Sales Revenue | 61.101 |
Inventories | 867 | Selling, General. |
|
Long-Term Debt | 1.898 | and Administrative Expenses | 7.102 |
Required:
1. Prepare an adjusted trial balance at January 31. 2012.
2. How did you determine the amount for retained earnings?
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