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Prepare an adjusted trial balance at february

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Swifty Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2021:

Accounts payable12,800

Income tax payable4,400

Accounts receivable27,400

Insurance expense3,400

Accumulated depreciation-equipment5,600

Prepaid insurance2,800

Cash17,200

Rent expense5,900

Common shares13,250

Retained earnings20,250

Depreciation expense4,600

Salaries expense47,750

Dividends declared 2,000

Salaries payable3,350

Equipment23,600

Supplies2,100

Fees earned88,400

Supplies expense4,200

Income tax expense4,600

Utilities expense2,500

All accounts have normal balances.

Problem 1: Prepare an adjusted trial balance at February 28.

Reference no: EM132954232

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