The June 30, 2014, unadjusted trial balance for Trenton Consulting after its first year of operations follows:
1. Enter the unadjusted trial balance onto a work sheet.
2. Using the following additional information, enter the adjustments onto the work sheet:
a. Annual depreciation on the equipment is $1,500.
b. The balance in the Prepaid Rent account is for six months of rent commencing March 1, 2014.
c. Unpaid and unrecorded wages at June 30 totaled $3,200.
d. Accrued revenues at June 30 totaled $4,1 ()().
3. Complete the work sheet.
4. Calculate the balance in the capital account as it would appear on the June 30, 2014, balance sheet.
What effect does a net loss have on the accounting equation?View Solution:
The June 30 2014 unadjusted trial balance for Trenton Consulting
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