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ACCT 220 Week 2 Homework Problems Solution

ACCT 220 Week 2 Homework Problems Solution

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ACCT 220 Week 2 Homework Problems Solution

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ACCT 220 Week 2 Homework Problems Solution

Review the unadjusted trial balance below and prepare adjusting journal entries to record the various described items

below.  Record in the space provided at the bottom of this spreadsheet.  After completing journal entries, complete the

adjusted trial balance below.  Lastly complete the income statement, balance sheet and statement of retained earnings.

The balance sheet must balance.  The accounting equation is Assets = Liabilities + Equity.

Baltimore Corporation

Unadjusted Trial Balance

January 31, 2016

Debits

Credits

 Cash

 $           37,500

 $                    –

 Accounts receivable

             12,410

                       –

 Prepaid insurance

               2,400

                       –

 Supplies inventory

               7,113

                       –

 Equipment

             35,000

                       –

(more)
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