After closing its accounts at July 31, 2012, Goodrow Electric Company had the following account balances: Requirement
Question:
Requirement
1. Prepare Goodrows post-closing trial balance at July 31,2012.
Transcribed Image Text:
Long-term liabilities $ 800 Equipment 1,200 Cash 1,600 Service revenue 0 Retained earnings 1,100 Supplies 1,400 Accumulated depreciation 1,000 $ 4,500 Land Accounts receivable Total expenses Accounts payable Uncarned service revenue Common stock 2,000 200 1,300
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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