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The June 30, 2020, unadjusted trial balance for Trenton Consulting after its first year of...

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Accounting

The June 30, 2020, unadjusted trial balance for Trenton Consulting after its first year of operations follows:

Trenton Consulting Unadjusted Trial Balance June 30, 2020
Unadjusted Trial Balance
Account Debit Credit
Cash $ 580
Accounts receivable 2,400
Prepaid rent 3,060
Equipment 7,600
Accounts payable $ 1,630
Toni Trenton, capital 21,450
Toni Trenton, withdrawals 5,880
Consulting revenue 29,200
Wages expense 23,920
Insurance expense 1,520
Rent expense 7,320
Totals $ 52,280 $ 52,280

Additional information:

  1. Annual depreciation on the equipment is $1,000.
  2. The balance in the Prepaid Rent account is for six months of rent commencing March 1, 2020.
  3. Unpaid and unrecorded wages at June 30 totalled $2,200.
  4. Accrued revenues at June 30 totalled $3,100.

Required: 1. - 3. Use the above information to complete the work sheet.

4. Calculate the balance in the capital account as it would appear on the June 30, 2020, balance sheet.

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