Prepare an adjusted trial balance

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Reference no: EM133974545

Problem

Lyons Inc. had the following T-accounts at year-end. 101 Cash Adj. Bal. 158,000 102 Accounts Receivable Adj. Bal. 20,000 104 Inventory Adj. Bal. 17,400 105 Prepaid Insurance Adj. Bal. 720 200 Equipment Adj. Bal. 100,000 201 Accumulated Depreciation 50,000 Adj. Bal. 300 Accounts Payable 21,000 Adj. Bal. 400 Common Stock 160,000 Adj. Bal. 401 Retained Earnings 37,800 Adj. Bal. 500 Sales 204,000 Adj. Bal. 600 Cost of Goods Sold Adj. Bal. 132,600 601 Operating Expenses Adj. Bal. 44,080. Get the instant assignment help. Using the T-accounts which reflect the company's year-end adjusting entries, prepare an adjusted trial balance.

Reference no: EM133974545

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