Solution
Khushboo answered on
Nov 12 2021
Directions
ACC 120 - Principles of Financial Accounting
Case # 3
ABC Corporation
Adjusted Trial Balance
December 31, 20xx November 30, 2016
Debit Credit
110 Cash $1,660,691
120 Accounts Receivable 3,261,879
125 Allowance for Doubful Accounts 100,800
130 Inventory 620,187
140 Other Cu
ent Assets 479,580
150 Land 950,868
160 Equipment 2,545,131
161 Accumulated Depreciation - Equipment 588,550
170 Intangible Assets 1,370,924
210 Accounts Payable 616,365
220 Unearned Revenue 1,631,578
230 Wages Payable 178,372
310 Common Stock, $1 par (1,000,000 shares aurthorized, 504,000 Shares Issued) 500,000
311 Excess of Issue over par - C/S 1,613,146
320 Retained Earnings 5,595,149
330 Treasury Stock (4,000 shares purchased for $25/share) 100,000
340 Cash Dividends 2,292,807
410 Sales 14,969,106
510 Cost of Goods Sold 8,371,002
520 Wages...