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Adjusted Trial Balance Debit Credit Cash ...

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Question

Accounting

Adjusted Trial Balance

Debit

Credit

Cash

$40,000

Accounts receivable

38,000

Supplies

1,000

Prepaid Insurance

5,200

Property, Plant & Equipment

909,000

Accumulated depreciation

$250,000

Accounts payable

22,000

Salaries payable

20,000

Utilities payable

1,500

Deferred revenue

6,000

Notes payable (due in 5 yrs)

100,000

Common stock

300,000

Retained earnings

250,000

Dividends

50,000

Service revenue-new construction

356,000

Service revenue-remodeling

574,000

Salaries expense

750,200

Depreciation expense

50,000

Interest expense

8,000

Supplies expense

2,600

Utilities expense

24,000

Service fee expense

1,500

Total

$1,879,500

$1,879,500

Identify & Explain the Following:

  1. Net Income:
  2. Total Current Assets:
  3. Book Value of Equipment:
  4. Total Assets:
  5. Identify ALL the Temporary Accounts from the following:

Cash, notes payable, depreciation expense, service fee expense, accumulated depreciation, salaries expense, dividends, service revenue, supplies.

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