The adjusted trial balance for Lloyd Construction as of December 31, 2020, follows: No. Account Debit Credit 191 Cash $ 15,500 104 Short-term investments 20,500 126 Supplies 7,100 149 Notes receivable 39,500 167 Equipment 73,000 168 Accumulated depreciation, equipment $ 35,500 173 Building 255,000 174 Accumulated depreciation, building 138,500 181 Land 83,500 193 Franchise 28,500 201 Accounts payable 16, 100 203 Interest payable f10 233 Unearned professional revenue 26,500 251 Long-ters notes payable 127,000 301 Amar Lloyd, capital 87,450 382 Amar Lloyd, withdrawals 2,500 401 Professional revenue 201,400 406 Rent revenue 23,500 19,500 606 Depreciation expense, building Depreciation expense, equipment Wages expense 612 7,500 623 63,500 633 Interest expense 560 637 Insurance expense 17,500
The adjusted trial balance for Lloyd Construction as of December 31, 2020, follows: No. Account Debit Credit 191 Cash $ 15,500 104 Short-term investments 20,500 126 Supplies 7,100 149 Notes receivable 39,500 167 Equipment 73,000 168 Accumulated depreciation, equipment $ 35,500 173 Building 255,000 174 Accumulated depreciation, building 138,500 181 Land 83,500 193 Franchise 28,500 201 Accounts payable 16, 100 203 Interest payable f10 233 Unearned professional revenue 26,500 251 Long-ters notes payable 127,000 301 Amar Lloyd, capital 87,450 382 Amar Lloyd, withdrawals 2,500 401 Professional revenue 201,400 406 Rent revenue 23,500 19,500 606 Depreciation expense, building Depreciation expense, equipment Wages expense 612 7,500 623 63,500 633 Interest expense 560 637 Insurance expense 17,500
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 24CE
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