Financial Accounting Quiz
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RECORDING TRANSACTIONS
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Coastal Services has the following account balances in its unadjusted trial balance at June 30, 2024: Equipment $48,000, Accumulated Depreciation—Equipment $12,000, Wages Expense $28,000, Wages Payable $0, Rent Expense $18,000, and Prepaid Rent $3,000. The following adjustments are needed: (1) Depreciation on equipment is $4,000 for the period, (2) Accrued wages total $1,800, and (3) Prepaid rent of $1,200 has expired.
In the adjusted trial balance, what will be the combined total of all expense account balances?
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