Hagadorn Company has the following adjusted accounts and balances at year-end (June 30): Accounts Payable $ 150 Interest Expense $ 105 Accounts Receivable 520 Interest Income 40 Accrued Expenses Payable 140 Inventories 770 Accumulated Depreciation 130 Land 410 Additional Paid-in Capital 256 Long-Term Debt 1,280 Buildings and Equipment 1,420 Prepaid Expenses 60 Cash 205 Salaries Expense 720 Common Stock 64 Sales Revenue 2,390 Cost of Sales 800 Rent Expense 580 Depreciation Expense 230 Retained Earnings 1,570 Income Taxes Expense 305 Unearned Fees 75 Income Taxes Payable 30 Prepare an adjusted trial balance in good form for the Hagadorn Company at June 30.

Respuesta :

Zviko

Answer:

Hagadorn Company

Adjusted trial balance as at June 30

                                                                        Debit              Credit

Accounts Payable                                                                   $ 150

Interest Expense                                            $ 105

Accounts  Receivable                                    $520

Interest Income                                                                         $40

Accrued Expenses Payable                                                    $140

Inventories                                                      $770

Accumulated Depreciation                                                     $130

Land                                                                 $410

Long-Term Debt                                                                  $1,280

Buildings and Equipment                           $1,420

Prepaid Expenses                                           $60

Cash                                                               $205

Salaries Expense                                          $720

Common Stock (64 + 256)                                                   $320

Sales Revenue                                                                   $2,390

Cost of Sales                                                 $800

Rent Expense                                                $580

Depreciation Expense                                  $230

Retained Earnings                                                             $1,570

Income Taxes Expense                               $305

Unearned Fees                                                                      $75

Income Taxes Payable                                                          $30

Totals                                                          $6,145             $6,145

Explanation:

A trial balance is a list of balances (debits and credits) extracted from ledger accounts that is used to prepare financial statements.

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