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Lesson 1: Course Orientation and Review of Accounting Cycle
Adjusted Trial Balance
After all adjusting entries have been journalized and posted to the appropriate ledger accounts, a company prepares another trial balance from the general ledger accounts referred to as the adjusted trial balance.
| Adjusted Trial Balance | ||
|---|---|---|
| Account | Debit | Credit |
| Cash | $82,100 |
-
|
| Accounts Receivable | 9,000 |
-
|
| Supplies | 3,200 |
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|
| Prepaid Insurance | 2,000 |
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|
| Truck, net | 15,000 |
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|
| Equipment, net | 40,400 |
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|
| Account Payable |
-
| $2,000 |
| Interest Payable |
-
| 167 |
| Notes Payable |
-
| 40,000 |
| Unearned Revenue |
-
| 6,000 |
| Common Stock |
-
| 100,000 |
| Revenue |
-
| 20,000 |
| Depreciation Expense (Equipment) | 9,600 |
|
| Depreciation Expense (Truck) | 5,000 |
|
| Utilities Expense | 500 |
-
|
| Supplies Expense | 800 |
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|
| Insurance Expense | 400 |
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|
| Interest Expense | 167 | |
|
-
| $168,167 | $168,167 |