Given the Trial Balance and Adjustment Columns of the Worksheet

question 40

Essay

Given the trial balance and adjustment columns of the worksheet, complete the adjusted trial balance column for the company.

	Trial				Adjusted
	Balance		Adjustments		Trial Balance
Accounts	DR	CR	DR	CR	DR	CR
Cash	950
Accts. Rec.	600
Supplies	150			100
Prepaid Rent	500			250
Prepaid Ins.	400			80
Equipment	5,000
Accumulated Depreciation		1,000		100
Accts. Pay		500
Capital		3,500
Fees Earned		3,500
Wages Exp.	400		200
Depreciation Expense			100
Rent Expense			250
Supplies Expense			100
Insurance Expense			80
Wages Payable
Total	8,000	8,000	730	730

Understand the basic principles of preparing financial statements and the effects of certain transactions on these statements.

Recognize the primary responsibilities for the information provided in financial statements.

Understand the cash flow statement and differentiate between operating, investing, and financing activities.

Understand and calculate net cash flow from investing activities.

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Definitions:

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