Answer To: help with adjusting journal entries
Nitish Lath answered on Apr 06 2021
TB
Falcon Corporation as on December 31, 2019
Particulars Unadjusted trial balance Adjustment Adjusted trial balance
Debit Credit Debit Credit Debit Credit
Accounts receivables 260,000 260,000
Accounts payables 130,000 130,000
Accumulated depreciation- equipment 30,000 7,500 37,500
Advertsing expense 27,000 27,000
Allowace for doubtful debts accounts 8,000 8,000
Bad debt expense 14,000 14,000
cash 397,000 397,000
Common stock 130,000 - 0 130,000
cost of goods sold 325,000 325,000
Depreciation expense 15,000 7,500 22,500
Equipment 300,000 300,000
Insurance expense 10,000 4,500 14,500
Income tax expense 10,000 20,000 30,000
Income tax payable - 0 20,000 20,000
Interest expense 3,000 11,250 14,250
Interest...