Parrish Ch. 4 Pg. 97 4-2 (Date 11/25/19)(Analysis of Period-end Measurements and Adjusting Process)Correcting The Trial Balance: DEBITS AND CREDITS ARE NOT EQUALPlease show me the correct answer to the following problem on the trial balance sheet and how you came to the answer. ACCOUNTS LISTED UNDER DEBITS 1) Accounts Receivable $7000 2) Building $72000 3) Office Equipment $24000 4) Accounts Payable $10000 5) Common Stock $50000 6) Dividends $10000 7) Commissions Earned $22000 8) Advertising Expense $1600 9) Salaries Expense $13300 10) Telephone Expense $600 11) Depreciation Expense: Building $200 12) Depreciation Expense: Office Equipment $250 TOTAL DEBITS $210950 ACCOUNTS LISTED UNDER CREDITS 1) Cash $6500 2) Land $67000 3) Accumulated Depreciation: Building $600 4) Accumulated Depreciation: Office Equipment $750 5) Notes Payable $81000 6) Common Stock $50000 7) Retained Earnings $46100 TOTAL CREDITS $251950
Parrish Ch. 4 Pg. 97 4-2 (Date 11/25/19)
(Analysis of Period-end Measurements and Adjusting Process)
Correcting The
Please show me the correct answer to the following problem on the trial balance sheet and how you came to the answer.
ACCOUNTS LISTED UNDER DEBITS
1) Accounts Receivable $7000
2) Building $72000
3) Office Equipment $24000
4) Accounts Payable $10000
5) Common Stock $50000
6) Dividends $10000
7) Commissions Earned $22000
8) Advertising Expense $1600
9) Salaries Expense $13300
10) Telephone Expense $600
11)
12) Depreciation Expense: Office Equipment $250
TOTAL DEBITS $210950
ACCOUNTS LISTED UNDER CREDITS
1) Cash $6500
2) Land $67000
3)
4) Accumulated Depreciation: Office Equipment $750
5) Notes Payable $81000
6) Common Stock $50000
7)
TOTAL CREDITS $251950
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