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ABC Company Trial Balance Summary

The document is an adjusted trial balance for ABC Company dated April 30, 2018. It lists the company's assets, liabilities, and equity accounts with their debit and credit balances. The total debits equal the total credits, balancing the adjusted trial balance. Key assets include cash, accounts receivable, inventory, and property, plant and equipment. Major liabilities are accounts payable and notes payable. Owner's equity comes from capital contributed by ABC as well as retained earnings.

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Nathan Villanueva
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87 views6 pages

ABC Company Trial Balance Summary

The document is an adjusted trial balance for ABC Company dated April 30, 2018. It lists the company's assets, liabilities, and equity accounts with their debit and credit balances. The total debits equal the total credits, balancing the adjusted trial balance. Key assets include cash, accounts receivable, inventory, and property, plant and equipment. Major liabilities are accounts payable and notes payable. Owner's equity comes from capital contributed by ABC as well as retained earnings.

Uploaded by

Nathan Villanueva
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

ABC COMPANY

Unadjusted Trial Balance


30-Apr-18
Debit Credit
Cash 197,500
Accounts Receivable 275,000
Supplies 131,500
Prepaid Insurance 120,000
Prepaid Rent 90,000
Office EQPT 150,000
Machinery 1,260,000
Building 8,000,000
Accounts Payable 150,000
Notes Payable 380,000
Unearned Revenue 150,000
Acccrud Machinery Expense 45,000
ABC, Capital 8,500,000
ABC, Drawing 55,000
Service Revenue 1,225,000
Salaries Expense 30,000
Utilities Expense 75,000
Miscellaneus Expense 21,000
Machinery Expense 45,000
TOTAL 10,450,000 10450000
ABC COMPANY
Adjusted Trial Balance
30-Apr-18
Debit Credit
Cash 197,500
Accounts Receivable 275,000
Allowance for Doubtful Accounts 13,750
Supplies 31,500
Prepaid Insurance 110,000
Prepaid Rent 80,000
Office EQPT 150,000
Accumulated Depreciation - EQPT 4,167
Machinery 1,260,000
Accumulated Depreciation - Machinery 21,000
Building 8,000,000
Accumulated Depreciation - BLDG 13,333
Accounts Payable 150,000
Notes Payable 380,000
Interest Payable 2,800
Unearned Revenue 125,000
Accrued Machinery Expense 45,000
ABC, Capital 8,500,000
ABC, Drawing 55,000
Service Revenue 1,250,000
Salaries Expense 30,000
Utilities Expense 75,000
Miscellaneous Expense 21,000
Machinery Expense 45,000
Supplies Expense 100,000
Insurance expense 10,000
Rent Expense 10,000
Depreciation Expense - EQPT 4,167
Depreciation Expense - Machinery 21,000
Depreciation Expense - Building 13,333
Interest Expense 2,800
Bad Debts Expense 13,750
TOTAL 10,505,050 10505050

ASSETS
Cash 197,500
Accounts Receivable 275,000
Allowance for Doubtful Accounts 13,750
Supplies 31,500
Prepaid Insurance 110,000
Prepaid Rent 80,000
Office EQPT 150,000
Accumulated Depreciation - EQPT 4,167
Machinery 1,260,000
Accumulated Depreciation - Machinery 21,000
Building 8,000,000
Accumulated Depreciation - BLDG 13,333

LIABILITIES
Accounts Payable 150,000
Notes Payable 380,000
Interest Payable 2,800
Unearned Revenue 125,000
Accrued Machinery Expense 45,000

OWNER'S EQUITY
ABC, Capital 8,500,000
ABC, Drawing 55,000
Service Revenue 1,250,000
Salaries Expense 30,000
Utilities Expense 75,000
Miscellaneous Expense 21,000
Machinery Expense 45,000
Supplies Expense 100,000
Insurance expense 10,000
Rent Expense 10,000
Depreciation Expense - EQPT 4,167
Depreciation Expense - Machinery 21,000
Depreciation Expense - Building 13,333
Interest Expense 2,800
Bad Debts Expense 13,750
Cash 197,500
A/R 275,000
All. Fo D/A -13,750
Supplies 31,500
Prepaid Insurance 110,000
Prepaid Rent 80,000
Office EQPT 145,833
Machinery 1,239,000
Building 7,986,667
TOTAL ASSETS 10,051,750

*deduct the amount of acc. Dep ASSETS =


10051750 =

Accounts Payable 150,000


Notes Payable 380,000
Interest Payable 2,800
Unearned Revenue 125,000
Accrued Machinery Expense 45,000
TOTAL LIABILITIES 702,800

ABC, Capital 8,500,000


ABC, Drawing -55,000
Service Revenue 1,250,000
Salaries Expense -30,000
Utilities Expense -75,000
Miscellaneous Expense -21,000
Machinery Expense -45,000
Supplies Expense -100,000
Insurance expense -10,000
Rent Expense -10,000
Depreciation Expense - EQPT -4,167
Depreciation Expense - Machinery -21,000
Depreciation Expense - Building -13,333
Interest Expense -2,800
Bad Debts Expense -13,750
TOTAL OWNER'S EQUITY 9,348,950
LIABILITIES + OWNER'S EQUITY
10,051,750

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