included in its trial balance immediately prior to preparing the financial stater ON TIME CORPORATION Adjusted Trial Balance At May 31, 2016 (millions of dollars) Debit Credit $ 3,600 Accounts Payable Accounts Receivable Accumulated Depreciation 24 $ 5,700 20,300 5,600 Cash 3,400 Common Stock 3,100 240 Depreciation Expense Dividends Equipment Goodwill Income Tax Expense Income Tax Payable Interest Expense Interest Receivable 39,500 4,500 1,250 1,250 170 80 Interest Revenue 90 8,400 650 Notes Payable (long-term) Notes Payable (short-term) Office Expenses Prepaid Rent Rent Expense Repairs and Maintenance Expense Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Service Revenue Supplies Transportation Expense 7,610 1, 200 3,200 2,600 16,680 17,300 2,400 48,400 520 12,600 $105,170 $105,170

included in its trial balance immediately prior to preparing the financial stater ON TIME CORPORATION Adjusted Trial Balance At May 31, 2016 (millions of dollars) Debit Credit $ 3,600 Accounts Payable Accounts Receivable Accumulated Depreciation 24 $ 5,700 20,300 5,600 Cash 3,400 Common Stock 3,100 240 Depreciation Expense Dividends Equipment Goodwill Income Tax Expense Income Tax Payable Interest Expense Interest Receivable 39,500 4,500 1,250 1,250 170 80 Interest Revenue 90 8,400 650 Notes Payable (long-term) Notes Payable (short-term) Office Expenses Prepaid Rent Rent Expense Repairs and Maintenance Expense Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Service Revenue Supplies Transportation Expense 7,610 1, 200 3,200 2,600 16,680 17,300 2,400 48,400 520 12,600 $105,170 $105,170

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Description: included in its trial balance immediately prior to preparing the financial staterON TIME CORPORATIONAdjusted Trial BalanceAt May 31, 2016(millions of dollars)DebitCredit$ 3,600Accounts PayableAccounts ReceivableAccumulated Depreciation24$ 5,70020,30

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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