Trial Balance Data:Cash: $40,000Supplies: $5,000Accounts Receivable: $30,000Unearned Revenue: $10,000Capital: $65,000Adjustments:Supplies used: $1,000Unearned revenue earned: $2,000Requirements:Prepare the adjusted trial balance.Ensure all...
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Accounting
Trial Balance Data:
- Cash: $40,000
- Supplies: $5,000
- Accounts Receivable: $30,000
- Unearned Revenue: $10,000
- Capital: $65,000
Adjustments:
- Supplies used: $1,000
- Unearned revenue earned: $2,000
Requirements:
- Prepare the adjusted trial balance.
- Ensure all adjustments are accurately reflected.
- Explain the purpose of making these adjustments.
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