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College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958 Exercise 1
Completing the worksheet.
The trial balance of Torres Company as of February 28, 2013, appears below.
INSTRUCTIONS
1. Record the trial balance in the Trial Balance section of the worksheet.
2. Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $1,100; expired rent, $1,000; depreciation expense for the period, $500.
Analyze: Why do you think the account Accumulated Depreciation-Equipment has a zero balance on the trial balance shown?
The trial balance of Torres Company as of February 28, 2013, appears below.
INSTRUCTIONS
1. Record the trial balance in the Trial Balance section of the worksheet.
2. Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $1,100; expired rent, $1,000; depreciation expense for the period, $500.
Analyze: Why do you think the account Accumulated Depreciation-Equipment has a zero balance on the trial balance shown?
Explanation
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1.
Supplies of $1,100 at the end of the...
College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
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