Bus3061 fundamentals of accounting southwest business school adjusted

Southwest Business School

Adjusted Trial Balance

December 31 20XX

 

Debit ($)

Credit ($)

Cash…………………………………………………………………………………..

26,000

 

Accounts receivable…………………………………………………………….

7,500

 

Teaching supplies………………………………………………………………..

2,600

 

Prepaid insurance………………………………………………………………..

12,000

 

Prepaid rent…………………………………………………………………………

0

 

Professional library………………………………………………………………

30,000

 

Accumulated depreciation—Professional library……………………..

 

15,000

Equipment…………………………………………………………………………..

70,000

 

Accumulated depreciation—Equipment………………………………….

 

28,000

Accounts payable………………………………………………………………..

 

36,000

Salaries payable…………………………………………………………………..

 

400

Unearned training fees………………………………………………………….

 

6,600

Common stock……………………………………………………………………

 

10,000

Retained earnings………………………………………………………………..

 

53,600

Dividends……………………………………………………………………………

40,000

 

Tuition fees earned…………………………………………………………….

 

1,09,500

Training fees earned………………………………………………………….

 

42,400

Depreciation expense—Professional library……………………….

6,000

 

Depreciation expense—Equipment…………………………………….

12,000

 

Salaries expense………………………………………………………………..

48,400

 

Insurance expense……………………………………………………………..

3,000

 

Rent expense……………………………………………………………………..

24,000

 

Teaching supplies expense………………………………………………..

7,400

 

Advertising expense…………………………………………………………..

7,000

 

Utilities expense…………………………………………………………………

      5,600

_______

Totals………………………………………………………………………………..

$3,01,500

$3,01,500

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