From the alphabetized account information above, select the best representation of what a Trial Balance would look like using this information. Assume all accounts have normal balances.
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Homework Answers
Answer: Trial Balance (A)
Explanation:
Trial Balance format should be look like as follows;
- Assets
- Liabilities
- Equity
- Revenues
- Expenses
Trial Balance:
| Trial balance (A) | |||
| Account Title | Debit | Credit | |
| Assets | Cash | $50,480 | |
| Accounts Receivable | 45,333 | ||
| Supplies | 6,800 | ||
| Equipment | 33,500 | ||
| Building | 156,000 | ||
| Land | 18,000 | ||
| Liabilities | Accounts Payable | 3,600 | |
| Notes Payable | 85,500 | ||
| Equity | Common Stock | 110,000 | |
| Retained Earnings | 60,606 | ||
| Dividends | 18,000 | ||
| Revenues | Fees Earned Revenue | 225,430 | |
| Expenses | Salaries Expense | 151,900 | |
| Miscellaneous Expense | 5,123 | ||
| Total | $485,136 | $485,136 |
Therefore, Trial Balance A is correct.
Add Answer to:
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Required information [The following information applies to the questions displayed below.] The adjusted trial balance for Chiara Company as of December 31, 2017, follows. Debit Credit Cash $ 176,900 Accounts receivable 51,000 Interest receivable 22,600 Notes receivable (due in 90 days) 172,000 Office supplies 16,000 Automobiles 172,000 Accumulated depreciation—Automobiles $ 95,000 Equipment 136,000 Accumulated depreciation—Equipment 21,000 Land 78,000 Accounts payable 92,000 Interest payable 20,000 Salaries payable 17,000 Unearned fees 40,000 Long-term notes payable 156,000 Common stock 29,580 Retained earnings...
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The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit...
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Required information Problem 3-5A Preparing financial statements from the adjusted trial balance and computing profit margin...
Required information Problem 3-5A Preparing financial statements from the adjusted trial balance and computing profit margin LO P3, A1, A2 [The following information applies to the questions displayed below.] The adjusted trial balance for Chiara Company as of December 31, 2017, follows. Debit Credit Cash $ 180,100 Accounts receivable 50,500 Interest receivable 21,600 Notes receivable (due in 90 days) 170,500 Office supplies 15,500 Automobiles 168,000 Accumulated depreciation—Automobiles $ 50,000 Equipment 136,000 Accumulated depreciation—Equipment 18,000 Land 87,000 Accounts payable 102,000...
The adjusted trial balance for Chiara Company as of December 31 follows. Credit $ Debit 225,800...
The adjusted trial balance for Chiara Company as of December 31 follows. Credit $ Debit 225,800 56,000 22,600 172,500 16,000 166,000 $ 90,000 138,000 23,000 80,000 Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable Common stock Retained earnings Dividends Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office supplies expense...
Cash Dividends Account Title Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Land Accounts payable Interest...
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The adjusted trial balance for Chiara Company as of December 31 follows. Debit Credit Cash $...
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Debit
Credit
Cash
$
185,900
Accounts receivable
54,500
Interest receivable
18,600
Notes receivable (due in 90 days)
171,000
Office supplies
15,500
Automobiles
169,000
Accumulated depreciation—Automobiles
$
70,000
Equipment
148,000
Accumulated depreciation—Equipment
25,000
Land
86,000
Accounts payable
103,000
Interest payable
20,000
Salaries payable
18,000
Unearned fees
40,000
Long-term notes payable
150,000
Common stock
30,580
Retained earnings
275,220
Dividends
48,000
Fees earned
554,000
Interest earned
38,000
Depreciation expense—Automobiles
25,000
Depreciation...
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follows.
Debit
Credit
Cash
$
185,900
Accounts receivable
54,500
Interest receivable
18,600
Notes receivable (due in 90 days)
171,000
Office supplies
15,500
Automobiles
169,000
Accumulated depreciation—Automobiles
$
70,000
Equipment
148,000
Accumulated depreciation—Equipment
25,000
Land
86,000
Accounts payable
103,000
Interest payable
20,000
Salaries payable
18,000
Unearned fees
40,000
Long-term notes payable
150,000
Common stock
30,580
Retained earnings
275,220
Dividends
48,000
Fees earned
554,000
Interest earned
38,000
Depreciation expense—Automobiles
25,000
Depreciation...
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