Graystone Inc Adjusted Trial Balance December 31, 2020 Account Title Debit Credit Cash 35,250 Supplies Prepaid Rent Accounts Receivable 320 22,000 18,100 Equipment Accumul.Dep-Equipment Accounts Payable Unearned Service Revenue Salaries Payable Interest Payable Notes Payable (2030) Share Capital-ordinary Dividends 14,000 60 9,890 4,250 4,800 500 10,000 48,000 5,500 Service Revenue 25,150 3,200 Rent Revenue Salaries Expense Supplies Expense Rent Expense Interest Expense Utilities Expense Depreciation Exp.-Equipment 4,800 2,180 2,000 500 1,140 60 Total 105,850 105,850

Graystone Inc Adjusted Trial Balance December 31, 2020 Account Title Debit Credit Cash 35,250 Supplies Prepaid Rent Accounts Receivable 320 22,000 18,100 Equipment Accumul.Dep-Equipment Accounts Payable Unearned Service Revenue Salaries Payable Interest Payable Notes Payable (2030) Share Capital-ordinary Dividends 14,000 60 9,890 4,250 4,800 500 10,000 48,000 5,500 Service Revenue 25,150 3,200 Rent Revenue Salaries Expense Supplies Expense Rent Expense Interest Expense Utilities Expense Depreciation Exp.-Equipment 4,800 2,180 2,000 500 1,140 60 Total 105,850 105,850

Name: a. Prepare the T-accounts for Retained Earningsand Income Summaryb. Pr
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Description: a. Prepare the T-accounts for Retained Earningsand Income Summaryb. Prepare the Post-closing Trial Balanceand keep the order of accounts Graystone IncAdjusted Trial BalanceDecember 31, 2020Account TitleDebitCreditCash35,250SuppliesPrepaid RentAccount

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA2: Investments

Section: Chapter Questions

Problem 23E

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