Prepare an unadjusted trial balance

Assignment Help Financial Accounting

Reference no: EM131247560

1. If total liabilities decreased by $25,200 and stockholders' equity increased by $4,900 during a period of time, then total assets must change by what amount and direction during the same time period?

$30,100 increase.

$20,300 decrease.

$30,100 decrease.

$20,300 increase.

2. At September 30, Balance Corporation reported the following unadjusted amounts for its accounts, each of which is considered to be a normal account balance.

Accounts Payable $11,500

Accounts Receivable 2,400

Advertising Expense 1,250

Cash 86,000

Common Stock 63,000

Equipment 60,300

Note Payable 34,500

Rent Revenue 41,700

Retained Earnings 33,650

Supplies 2,400

Supplies Expense 700

Utilities Expense 2,600

Salaries and Wages Expense 28,700

Required:

Prepare an unadjusted trial balance.

Reference no: EM131247560

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