The adjusted trial balance for PI Detectives reported the following account balances: Accounts Receivable $540; Supplies $9,400; Prepaid Insurance $7,600; Equipment $30,000; Accumulated Depreciation $4,400; Accounts Payable $240; Deferred Revenue $5,400; Notes Payable $3,400; Common Stock $24,000; Retained Earnings $6,100; Dividends $3,400; Service Revenue $35,800; Salaries and Wages Expense $22,000; and Depreciation Expense $1,200. Prepare an adjusted trial balance as of December 31, and solve for its missing Cash balance.

Question

Business

Madison Hanson

4 November, 15:33

The adjusted trial balance for PI Detectives reported the following account balances: Accounts Receivable $540; Supplies $9,400; Prepaid Insurance $7,600; Equipment $30,000; Accumulated Depreciation $4,400; Accounts Payable $240; Deferred Revenue $5,400; Notes Payable $3,400; Common Stock $24,000; Retained Earnings $6,100; Dividends $3,400; Service Revenue $35,800; Salaries and Wages Expense $22,000; and Depreciation Expense $1,200. Prepare an adjusted trial balance as of December 31, and solve for its missing Cash balance.

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Will Holloway · Answer 1

PI Detectives

Trial Balance

Debit Credit

Cash $5,200

Accounts Receivable $540

Supplies $9,400

Prepaid Insurance $7,600

Equipment $30,000

Accumulated Depreciation $4,400

Accounts Payable $240

Deferred Revenue $5,400

Notes Payable $3,400

Common Stock $24,000

Retained Earnings $6,100

Dividends $3,400

Service Revenue $35,800

Salaries and Wages Expense $22,000

Depreciation Expense $1,200

$79,340 $79,340

Cash Balance is $5,200