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    This adjusted trial balance on December 31, 2020 shows total assets of $11.3 million including $400,000 cash, $600,000 accounts receivable, $800,000 inventory, $7.8 million equipment, and $1.5 million land. Total liabilities are $4.7 million consisting of $2 million notes payable, $80,000 interest payable, and $4.5 million capital. Additionally, total expenses for the period were $5.005 million.

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    This adjusted trial balance on December 31, 2020 shows total assets of $11.3 million including $400,000 cash, $600,000 accounts receivable, $800,000 inventory, $7.8 million equipment, and $1.5 million land. Total liabilities are $4.7 million consisting of $2 million notes payable, $80,000 interest payable, and $4.5 million capital. Additionally, total expenses for the period were $5.005 million.

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    Acc Answer

    Uploaded by

    Fierryl Menis
    This adjusted trial balance on December 31, 2020 shows total assets of $11.3 million including $400,000 cash, $600,000 accounts receivable, $800,000 inventory, $7.8 million equipment, and $1.5 million land. Total liabilities are $4.7 million consisting of $2 million notes payable, $80,000 interest payable, and $4.5 million capital. Additionally, total expenses for the period were $5.005 million.

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    ADJUSTED TRIAL BALANCE, DEC.

    31, 2020
     
    Account

    Cash 400,000

    Accounts Receivable 600,000

    Allowance for Doubtful Accounts  

    Inventory 800,000

    Equipment 7,800,000

    Accumulated Depreciation 2,000,000

    Land 1,500,000

    Accounts Payable  

    Notes Payable 2,000,000

    Interest Payable 80,000

    Makabayan, Capital 4,500,000

    Sales Revenue  

    Subscription Revenue  

    Purchases 2,500,000

    Rent Expense 600,000

    Interest Expense 120,000

    Selling Expense 400,000

    Insurance Expense 300,000

    Wage Expense 1,185,000

    General and Administrative Expense 800,000

    Totals 20,685,000
     
     

    Explanation:
    GOOD LUCK!!!

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