The accountant for VVF, Inc. made a list of the accounts and…
The accountant for VVF, Inc. made a list of the accounts and their balances from the general journal; however, absent-mindedly, he/she/they did not prepare the information in an Adjusted Trial Balance format. 1. For each of the accounts, place the account balance in the correct column, either as a debit balance or a credit balance. All accounts are “normal”. If there is no balance in a column, place a 0 (for zero). In other words, every blank must be filled with either the account balance OR a zero. Do NOT enter dollar signs or commas. 2. Enter totals for both the debit balances and for the credit balances. (Remember that a Trial Balance must have total debit balances equal to total credit balances.) Account Titles Account Balances Debit Balances Credit Balances Unearned revenues 160 Wages expense 620 Interest income 200 Common stock 2030 Fees earned 1200 Retained earnings 1425 Accounts receivable 80 Accumulated depreciation-auto 325 Accounts payable 190 Auto 4000 Depreciation expense 150 Interest expense 50 Dividends declared 180 Checking (cash) 1000 Interest payable 220 Insurance expense 130 Prepaid insurance 340 Note payable (25% due in 1 year) 800 TOTALS ————