70.2K

Verified Solution

Link Copied!

$\backslash$table$[[$TRENTON CONSULTING$]]$

Work Sheet

For Year Ended June $30,2023$

$\backslash$table$[[$Account$,$Unadjusted Trial Balance,Adjustments,Adjusted Trial Balance,Income Statement,$\backslash$table$[[],[$Statement of Changes$],[$in Equity$]]],[,$ebit,Credit,Debit,Credit,Debit,Credit,Debit,Credit,Debit,Credit$],[$Cash$,$$$,680,,,,,,,,,],[$Accounts receivable,,$2,900,,,,,,,,,],[$Prepaid rent,,$3,660,,,,,,,,,],[$Equipment$,,9,600,,,,,,,,,],[$Accounts payable,,,$1,730,,,,,,,,],[$Toni Trenton, capital,,,$26,650,,,,,,,,],[$Toni Trenton, withdrawals,,$6,880,,,,,,,,,],[$Consulting revenue,,,$30,200,,,,,,,,],[$Wages expense,,$24,920,,,,,,,,,],[$Insurance expense,,$1,620,,,,,,,,,],[$Rent expense,,$8,320,,,,,,,,,],[$Totals$,$$$,58,580,58,580,,,,,,,,],[$Depreciation expense$],[\backslash$table$[[$Accumulated depreciation,$],[$equip$.]]],[\backslash$table$[[$equip$.],[$Wages payable$]]],[$Totals$,,,,$$$,$$$,,0,0,0,0,$$The June $30,2023,$ unadjusted trial balance for Trenton Consulting after its first year of operations follows:Trenton ConsultingUnadjusted Trial BalanceJune $30,2023$UnadjustedAccountDebitTebit BaCreditCash$680$Accounts receivable$2,900$Prepaid rent$3,660$Equipment$9,600$Accounts payable$ $1,730$Toni Trenton, capital$26,650$Toni Trenton, withdrawals$6,880$Consulting revenue$30,200$Wages expense$24,920$Insurance expense$1,620$Rent expense$8,320$Totals$$58,580$$ $58,580$Additional information:a$.$ Annual depreciation on the equipment is $$1,500.$b$.$ The balance in the Prepaid Rent account is for six months of rent commencing March $1,2023.$c$.$ Unpaid and unrecorded wages at June $30$ totalled $$3,200.$d$.$ Accrued revenues at June $30$ totalled $$4,100.$Required:$1.-3.$ Use the above information to complete the work sheet.

Answer & Explanation Solved by verified expert

See Answer