Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. adjusted trial balance pets-r-us adjusted trial

adjusted trial balance Pets-R-Us Adjusted Trial Balance 31-Dec-23 \begin{tabular}{lr|r|} Accounts & Debit...

50.1K

Verified Solution

Question

Accounting

adjusted trial balance image
Pets-R-Us Adjusted Trial Balance 31-Dec-23 \begin{tabular}{lr|r|} Accounts & Debit & Credit \\ Cash & $165,000 & \\ Accounts Receivable & 130,100 & \\ Inventory & 39,500 & \\ Land & 67,300 & \\ Buildings & 120,000 & \\ Accumulated Depreciation & & 10,400 \\ Accounts Payable & 6,700 \\ Salaries Payable & & 26,100 \\ Income Tax Payable & & 8,000 \\ Notes Payable (Current) & & 17,300 \\ Notes Payable (Long-term) & & 81,600 \\ Common Stock & & 200,000 \\ Retained Earnings & & 155,400 \\ Sales Revenue & 195,000 \\ Cost of Goods Sold & 55,000 & \\ Salaries Expense & 2,300 & \\ Bad Debt Expense & 800 & \\ Depreciation Expense & 8,000 & \\ \hline Income Tax Expense & $700,500 & $700,500 \\ \hline Totals & & \\ \hline \end{tabular} Calculate the following balances: Gross profit Operating income Net income Total fong-ferm assets Total current liabilties Retained earnings on the balance sheet Total stockholders' equity

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students