AC 391 Chapter 3 Homework 2.pdf - Lauren Watkins AC 391...

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Lauren Watkins AC 391 9/6/19 P3.6(LO 3, 4)(Adjusting Entries and Financial Statements)The following are the trial balance and the other information related to Perez Consulting Engineers. Perez Consulting Engineers Trial Balance December 31, 2020 Debit Credit Cash $ 29,500 Accounts Receivable 49,600 Allowance for Doubtful Accounts $ 750 Supplies 1,960 Prepaid Insurance 1,100 Equipment 25,000 Accumulated DepreciationEquipment 6,250 Notes Payable 7,200 Common Stock 10,000 Retained Earnings 25,010 Service Revenue 100,000 Rent Expense 9,750 Salaries and Wages Expense 30,500 Utilities Expenses 1,080 Office Expense 720 $149,210 $149,210 1.Fees received in advance from clients $6,000, which were recorded as revenue.

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