What is balance in the liability insurance expense account

Assignment Help Accounting Basics

Reference no: EM133923346

Problem: Mookie the Beagle Coach

The Adjusted Trial Balance is a trial balance that is prepared after adjusting entries have been made. The purpose of the Adjusted Trial Balance is to verify that our accounting system still balances after adjustments. In addition, it permits us to review the adjusted account balances to crosscheck that our adjusting entries had the desired effect on the account balances.

Task

To view an Adjusted Trial Balance in QBO simply run the Trial Balance report again after adjusting entries have been entered in QBO.

A. From the Navigation Bar, select Reports
B. Select Standard report tab
C. Select Report Category: For My Accountant
D. Select Trial Balance and complete steps to run the Trial Balance again at 02/29/2024 after adjusting entries are entered
E. Export the Trial Balance (Adjusted) to Excel.

1. What is the amount of Total Debits?
2. What is amount of Total Credits?
3. What is balance in the Liability Insurance Expense account? Get the instant assignment help.
4. What is the balance in the Unearned Revenue (Liability) account?
5. What is the balance in the Office Supplies & Software (Expenses) account?
6. What is the balance in the Prepaid Expenses: Supplies (Asset) account?
7. What is the balance in the Prepaid Expenses: Insurance (Asset) account?

Reference no: EM133923346

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