Graystone Inc Adjusted Trial Balance December 31, 2020 Account Title Debit Credit Cash 35,250 Supplies Prepaid Rent Accounts Receivable 320 22,000 18,100 Equipment Accumul.Dep-Equipment Accounts Payable Unearned Service Revenue Salaries Payable Interest Payable Notes Payable (2030) Share Capital-ordinary Dividends 14,000 60 9,890 4,250 4,800 500 10,000 48,000 5,500 Service Revenue 25,150 3,200 Rent Revenue Salaries Expense Supplies Expense Rent Expense Interest Expense Utilities Expense Depreciation Exp.-Equipment 4,800 2,180 2,000 500 1,140 60 Total 105,850 105,850
Graystone Inc Adjusted Trial Balance December 31, 2020 Account Title Debit Credit Cash 35,250 Supplies Prepaid Rent Accounts Receivable 320 22,000 18,100 Equipment Accumul.Dep-Equipment Accounts Payable Unearned Service Revenue Salaries Payable Interest Payable Notes Payable (2030) Share Capital-ordinary Dividends 14,000 60 9,890 4,250 4,800 500 10,000 48,000 5,500 Service Revenue 25,150 3,200 Rent Revenue Salaries Expense Supplies Expense Rent Expense Interest Expense Utilities Expense Depreciation Exp.-Equipment 4,800 2,180 2,000 500 1,140 60 Total 105,850 105,850
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 17E
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Question
a. Prepare the T-accounts for Retained Earningsand Income Summary
b. Prepare the Post-closing Trial Balanceand keep the order of accounts
![Graystone Inc
Adjusted Trial Balance
December 31, 2020
Account Title
Debit
Credit
Cash
35,250
Supplies
Prepaid Rent
Accounts Receivable
320
22,000
18,100
Equipment
Accumul.Dep-Equipment
Accounts Payable
Unearned Service Revenue
Salaries Payable
Interest Payable
Notes Payable (2030)
Share Capital-ordinary
Dividends
14,000
60
9,890
4,250
4,800
500
10,000
48,000
5,500
Service Revenue
25,150
3,200
Rent Revenue
Salaries Expense
Supplies Expense
Rent Expense
Interest Expense
Utilities Expense
Depreciation Exp.-Equipment
4,800
2,180
2,000
500
1,140
60
Total
105,850
105,850](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F81993a83-5176-4c09-a198-0e5a3fd03b29%2F9fe561a4-5ad2-4074-b55f-3f7348f2f00b%2F9e8dd9_processed.png&w=3840&q=75)
Transcribed Image Text:Graystone Inc
Adjusted Trial Balance
December 31, 2020
Account Title
Debit
Credit
Cash
35,250
Supplies
Prepaid Rent
Accounts Receivable
320
22,000
18,100
Equipment
Accumul.Dep-Equipment
Accounts Payable
Unearned Service Revenue
Salaries Payable
Interest Payable
Notes Payable (2030)
Share Capital-ordinary
Dividends
14,000
60
9,890
4,250
4,800
500
10,000
48,000
5,500
Service Revenue
25,150
3,200
Rent Revenue
Salaries Expense
Supplies Expense
Rent Expense
Interest Expense
Utilities Expense
Depreciation Exp.-Equipment
4,800
2,180
2,000
500
1,140
60
Total
105,850
105,850
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