Please help me with the trial balance! TINTERMEDIATE ACCOUNTING prepare a work -

Question

Please help me with the trial balance!

TINTERMEDIATE ACCOUNTING prepare a work -heet uaing the account balances taken from ccounts payable Accumulated deprecion bidg Building 000 Chen Accts r AlLowance for bad debta 210,000 Dividends declared 1.400 RoveAw Interest expense Interest revenue ess S Inventory (1/1/96) Long-term investment s Mortgage payable XNoten payabie. ahort term A Office expense Purchases Fx Purchases discounta Real estate tax expense E Contrnfo (ard., 347, 420 XRetained earnings 50,200 490,000 16,500 Salary expense Sales discounts Sales returns 12,500 Selling expense Supplies expense Adjustments on December 31 are required as follows Ending inventory is $90, 610 The allowance for doubtful accounts is to be increased to a balance of $3, 500 2. 3. The building is depreciated on a straight-line basis based on a 20-year useful life. (no salvage value, record 1 3500 4. Accrued salaries payable are $4, 050. 5. supplies on hand are $780 6. Prepaid insurance should be $860. 7. Unearned sales revenue should have a balance of $800 8. Accrued real estate taxes are $700 9. Accrued interest on the mortgage is $160 one fulI year) 10. Income tax expense is estimated to be $3,850

Explanation / Answer

Unadjusted Trial Balance Adjustment Adjusted Trial Balance Debit Credit Debit Credit Debit Debit Account Payable 86000 86000 Account receivable 92800 92800 Adverstising Expense 8000 8000 Accumulated Derpeciation 21000 10500 31500 Allowance for Doubtfull debt 1700 1800 3500 Building 210000 210000 Common Stock 300000 300000 Cash 30500 30500 Dividend Declared 8000 8000 Freight In 7000 7000 Insurance Expense 1400 860 540 Interest Expense 3530 160 3690 Interest revenue 890 890 Inventory 01/01/96 69900 69900 Land 52000 52000 Long term Invetment 8100 8100 Mortage Payable 29000 29000 Note Payable 16000 16000 Office expense 19200 19200 Purchase 347420 347420 Purchase Discount 8100 8100 Accrude Salary Payable 4050 4050 Real Estate Tax Expense 12870 700 13570 Retained Earnings 9130 9130 Salary Expense 50200 4050 54250 Sales 490000 490000 Sales Discount 16500 16500 Sales returns 9600 9600 Selling Expense 12500 12500 Supplies Expense 2300 780 1520 Supplies 780 780 Bad debt Expense 1800 1800 Depreciation Expense 10500 10500 Preaid Insurance 860 860 Real Estate TaxPayable 700 700 Interest Payable 160 160 Income Tax Expense 3850 3850 Income Tax Payable 3850 3850 961820 961820 22700 22700 982880 982880

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