
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372 Exercise 39
Preparing an Adjusted Trial Balance from Adjusted Account Balances
Gibson Consultants, Inc., provides marketing research for clients in the retail industry. The company had the following adjusted balances at December 31, 2012 (listed alphabetically):
Required:
1. Prepare an adjusted trial balance listing the accounts in proper order at December 31, 2012. Solve for the " " in Retained Earnings.
2. Does the Retained Earnings balance determined in requirement 1 represent the balance at December 31, 2012, or December 31, 2011 Explain.
Gibson Consultants, Inc., provides marketing research for clients in the retail industry. The company had the following adjusted balances at December 31, 2012 (listed alphabetically):

Required:
1. Prepare an adjusted trial balance listing the accounts in proper order at December 31, 2012. Solve for the " " in Retained Earnings.
2. Does the Retained Earnings balance determined in requirement 1 represent the balance at December 31, 2012, or December 31, 2011 Explain.
Explanation
1.
Trial balance:
Trial balance is a s...
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
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