Question

The adjusted trial balance for Chiara Company as of December 31 follows. Debit Credit Cash $ 77,800 Accounts receivable 55,000 Interest receivable 19,000 Notes receivable (due in 90 days) 173,000 Office supplies 16,000 Automobiles 174,000 Accumulated depreciation—Automobiles $ 85,000 Equipment 140,000 Accumulated depreciation—Equipment 16,000 Land 78,000 Accounts payable 103,000 Interest payable 35,000 Salaries payable 19,000 Unearned fees 36,000 Long-term notes payable 142,000 Common stock 27,580 Retained earnings 248,220 Dividends 51,000 Fees earned 474,000 Interest earned 30,000 Depreciation expense—Automobiles 25,500 Depreciation expense—Equipment 20,000 Salaries expense 184,000 Wages expense 41,000 Interest expense 35,000 Office supplies expense 34,200 Advertising expense 61,500 Repairs expense—Automobiles 30,800 Totals $ 1,215,800 $ 1,215,800

Answer 1

Answer:

See the explanation.

Explanation:

See the images