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nikitadnepr [17]
3 years ago
9

The adjusted trial balance for PI Detectives reported the following account balances: Accounts Receivable $540; Supplies $9,400;

Prepaid Insurance $7,600; Equipment $30,000; Accumulated Depreciation $4,400; Accounts Payable $240; Deferred Revenue $5,400; Notes Payable $3,400; Common Stock $24,000; Retained Earnings $6,100; Dividends $3,400; Service Revenue $35,800; Salaries and Wages Expense $22,000; and Depreciation Expense $1,200. Prepare an adjusted trial balance as of December 31, and solve for its missing Cash balance.
Business
1 answer:
abruzzese [7]3 years ago
4 0

Answer:

                                            PI Detectives

                                            Trial Balance

                                                              Debit                     Credit

Cash                                                       $5,200

Accounts Receivable                            $540

Supplies                                                 $9,400

Prepaid Insurance                                 $7,600

Equipment                                             $30,000

Accumulated Depreciation                                               $4,400

Accounts Payable                                                              $240

Deferred Revenue                                                             $5,400

Notes Payable                                                                   $3,400

Common Stock                                                                  $24,000

Retained Earnings                                                             $6,100

Dividends                                               $3,400

Service Revenue                                                               $35,800

Salaries and Wages Expense               $22,000

Depreciation Expense                         <u>  $1,200 </u>               <u>             </u>

                                                              <u> $79,340</u>             <u>$79,340</u>

Cash Balance is $5,200

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