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Financial Accounting

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Indicate Accounts Likely To Change in Unadjusted Trial Balance

FINACT-B1TWVY

Review the unadjusted trial balance below.

Unadjusted Trial Balance DEBIT CREDIT
Cash \$100,000
Accounts Receivable \$40,000
Prepaid Rent \$10,000
Equipment \$380,000
Accumulated Depreciation, Equipment \$80,000
Accounts Payable \$40,000
Note Payable \$100,000
Common Stock \$10,000
Retained Earnings \$75,000
Service Revenues \$575,000
Cost of Goods Sold \$150,000
Rent Expense \$50,000
Salaries & Wages Expense \$100,000
Other Operating Expenses \$40,000
Interest Expense \$10,000
TOTALS \$880,000 \$880,000



Which accounts would likely change during the adjusting entry process (assuming no errors need to be corrected)?

Two of the accounts likely to need adjusting (or need to be checked before finalizing adjustments) would include: