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Chapter 3: Q.4TI (page 144)

Question: Hooten Carpentry had the following accounts and account balances after adjusting entries. Assume all accounts have normal balances. Prepare the adjusted trial balance for Hooten Carpentry as of December 31, 2018. Cash \( 4,025 Common Stock \) ? Land 5,000 Accounts Receivable 660 Utilities Expense 400 Office Supplies 120 Accounts Payable 225 Utilities Payable 210 Accumulated Depreciation—Equipment 1,000 Service Revenue 12,000 Salaries Expense 550 Unearned Revenue 300 Supplies Expense 80 Depreciation Expense—Equipment 800 Equipment 10,000 Dividends 500.

Short Answer

Expert verified

Answer

Adjusted trial balance is shown as follows:

HOOTEN CARPENTRY
Adjusted Trial Balance
December 31, 2018

 Balance

Account Title

Debit

Credit

Cash

$4,025

Accounts Receivable

660

Office Supplies

120

Land

5,000

Equipment

10,000

Accumulated Depreciation—Equipment

$1,000

Accounts Payable

225

Utilities Payable

210

Unearned Revenue

300

Common Stock

8,400

Dividends

500

Service Revenue

12,000

Salaries Expense

550

Depreciation Expense—Equipment

800

Supplies Expense

80

Utilities Expense

400

_______

Total

$22,135

$22,135

Step by step solution

01

Explanation on Adjusted Trial Balance

Adjusted trial balance is prepared after recording the adjusting entries in the books of accounts. It represents the final balances all accounts after all adjustments.

02

Explanation on Trial Balance

In case ofHooten Carpentry, the debit and credit balance equals $22,135 inadjusted trial balance.

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Most popular questions from this chapter

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