Problem 4-2A Completing a work sheet Lo1 eXce CHECK FIGURE: 3. Adjusted trial ba

Question

Problem 4-2A Completing a work sheet Lo1 eXce CHECK FIGURE: 3. Adjusted trial balance columns $67,380 , unadiusted trial balance for Trenton Consulting after its first year of operations followy ton Consulting Trial Balance.xls P18 Trenton Consulting Unadjusted Trial Balance June 30, 2017 Trial Balance Dr. Cr. Account 6 7 Cash 8 Accounts receivable qPrepaid rent 10? Equipment 11 Accounts payable 12 Toni Trenton, capital 13 Toni Trenton, withdrawals 14 Consulting revenue 15 Wages expense 16 Insurance expense 17 Rent expense 18 Totals 680 2,900 3,660 9.600 1,730 26,650 6,880 30,200 24,920 1,620 8.32080 58,580 58,580 Required 1. Enter the unadjusted trial balance onto a work sheet. 2. Using th e following additional information, enter the adjustments onto the work sheet: a. Annual depreciation on the equipment is $1,500. balance in the Prepaid Rent account is for six months of rent commencing March 1, 2017 e. Unpaid and unrecorded wages at June 30 totalled $3,200. d. Accrued revenues at June 30 totalled $4,100. 3. Complete the work sheet. lculate the balance in the capital account as it would lusls Component: What effect does a loss have on the accounting ec appear on the June 30,2017, balance sheet. counting equation?

Explanation / Answer

Statement of Balance Sheet & Income Statement : Account Unadj TB Adjust Adjusted TB Incom State Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 680 680 680 AR 2900 4100 7000 7000 Pre Rent 3660 2440 1220 1220 Equip 9600 9600 9600 AP 1730 1730 1730 Toni T Capi 26650 26650 -7700 12070 Toni T Withd 6880 6880 0 Consulting Reve 30200 4100 34300 34300 Wages exp 24920 3200 28120 28120 Insu exp 1620 1620 1620 rent exp 8320 2440 10760 10760 dep exp 1500 1500 1500 Acc Dep - Eq 1500 1500 1500 Wages Payable 3200 3200 3200 Rent exp Total 58580 58580 11240 11240 67380 67380 34300 34300 18500 18500

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