In Ignacio Company's unadjusted trial balance, prepaid insurance has a debit balance of $4,400, accumulated...
50.1K
Verified Solution
Link Copied!
Question
Accounting
In Ignacio Company's unadjusted trial balance, prepaid insurance has a debit balance of $4,400, accumulated depreciation, equipment has a credit balance of $1,000, and unearned income a credit balance of $3,000. The following adjustments were made at the end of April:
. Expired insurance recoded for $400,
. Recorded depreciation expense, equipment for $500 and
. Recorded earned income of $300 previously received in advance
What balances will show in the adjusted trial balance for Prepaid Insurance, Accumulated Depreciation, Equipment, and Unearned Income accounts?
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
Best
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.