Macro Company has the following adjusted accounts and balances at June 30: Macro Company has the following adjusted...

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Macro Company has thefollowing adjusted accounts and balances at June 30:
Macro Company has thefollowing adjusted accounts and balances at June 30:
Accounts Payable $ 370
AccountsReceivable 620
AccumulatedAmortization 185
AccumulatedDepreciation 320
Cash 1,090
CommonStock 370
DeferredRevenue 135
DepreciationExpense 145
Equipment 1,470
Income TaxExpense 145
Income TaxPayable 40
InterestExpense 215
InterestRevenue 60
Notes Payable(long-term) 1,370
OfficeExpenses 890
PrepaidRent 50
RentExpense 470
RetainedEarnings 155
Salaries andWages Expense 730
SalesRevenue 3,835
Software 235
Supplies 780
How do you prepare an adjusted trial balance for Macro Companyat June 30?

Answer & Explanation Solved by verified expert

3.7 Ratings (589 Votes)

Adjusted trial balance is prepared by listing the account balances under
debit and credit columns of the adjusted trial balance on the assumption
that they are normal balances.
ADJUSTED TRIAL BALANCE
	Debit	Credit
Accounts Payable		$ 370
Accounts Receivable	$ 620
Accumulated Amortization		$ 185
Accumulated Depreciation		$ 320
Cash	$1,090
Common Stock		$ 370
Deferred Revenue		$ 135
Depreciation Expense	$ 145
Equipment	$1,470
Income Tax Expense	$ 145
Income Tax Payable		$ 40
Interest Expense	$ 215
Interest Revenue		$ 60
Notes Payable (long-term)		$1,370
Office Expenses	$ 890
Prepaid Rent	$ 50
Rent Expense	$ 470
Retained Earnings		$ 155
Salaries and Wages Expense	$ 730
Sales Revenue		$3,835
Software	$ 235
Supplies	$ 780
Total	$ 6,840	$ 6,840

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Macro Company has thefollowing adjusted accounts and balances at June 30:Macro Company has thefollowing adjusted accounts and balances at June 30:Accounts Payable$370AccountsReceivable620AccumulatedAmortization185AccumulatedDepreciation320Cash1,090CommonStock370DeferredRevenue135DepreciationExpense145Equipment1,470Income TaxExpense145Income TaxPayable40InterestExpense215InterestRevenue60Notes Payable(long-term)1,370OfficeExpenses890PrepaidRent50RentExpense470RetainedEarnings155Salaries andWages Expense730SalesRevenue3,835Software235Supplies780How do you prepare an adjusted trial balance for Macro Companyat June 30?