An adjusted trial balance is given below. Debit Credit Cash $ 15 000 Accounts receivable...
70.2K
Verified Solution
Link Copied!
Question
Accounting
An adjusted trial balance is given below. Debit Credit Cash $ 15 000 Accounts receivable 3000 Prepaid rent 900 Inventory 27000 Accounts payable $ 4 200 Salaries payable 1500 Loan payable 900 Smith, capital 13700 Drawings 1500 Sales revenue 96100 Sales returns and allowances 1500 Sales discounts 700 Cost of sales 24000 Salaries expense 20000 Rent expense 14000 Selling expense 8300 Supplies expense 500 minusminusminusminusminusminusminus Total $ 116 400 $ 116 400 What will be the final balance in the Smith, capital account after recording the closing entries?
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.