Accounts from the adjusted trial balance at September 30, 2021, are listed in alphabetical order below for Vaughn Corp.: Accounts payable $4,460 Income tax expense $620 Accounts receivable 9,190 Income tax payable 200 Accumulated depreciation-equipment 690 Interest expense 90 Bank loan payable 7,800 Interest payable 90 Cash 3,250 Rent expense 1,500 Common shares 7,000 Retained earnings 2,920 Deferred revenue 530 Salaries expense 13,330 Depreciation expense 690 Salaries payable 870 Dividends declared 700 Supplies 1,380 Equipment 15,040 Supplies expense 485 Fees earned 22,485 Utilities expense 770 (a)
Accounts from the adjusted trial balance at September 30, 2021, are listed in alphabetical order below for Vaughn Corp.: Accounts payable $4,460 Income tax expense $620 Accounts receivable 9,190 Income tax payable 200 Accumulated depreciation-equipment 690 Interest expense 90 Bank loan payable 7,800 Interest payable 90 Cash 3,250 Rent expense 1,500 Common shares 7,000 Retained earnings 2,920 Deferred revenue 530 Salaries expense 13,330 Depreciation expense 690 Salaries payable 870 Dividends declared 700 Supplies 1,380 Equipment 15,040 Supplies expense 485 Fees earned 22,485 Utilities expense 770 (a)
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter3: Accrual Accounting
Section: Chapter Questions
Problem 58E: Exercise 3-58 Preparing a Balance Sheet Refer to the unadjusted trial balance for Oxmoor Corporation...
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