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

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Finance

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
AccountsReceivable620
AccumulatedAmortization185
AccumulatedDepreciation320
Cash1,090
CommonStock370
DeferredRevenue135
DepreciationExpense145
Equipment1,470
Income TaxExpense145
Income TaxPayable40
InterestExpense215
InterestRevenue60
Notes Payable(long-term)1,370
OfficeExpenses890
PrepaidRent50
RentExpense470
RetainedEarnings155
Salaries andWages Expense730
SalesRevenue3,835
Software235
Supplies780

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?

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