The following is the trial balance for Harvest Province for the current year: Required Prepare the consolidated
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Required
Prepare the consolidated statement of financial position and consolidated statement of operations and accumulated deficit for Harvest Province assuming that it has not adopted the recommendations of PS 3450 and related sections.
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Harvest Province Trial Balance Dr. Account Cr. $ 1,250 Accumulated deficit Cash 1,000 Education expense 1,200 GBE income 50 Health expense 1,800 $2,750 Income tax Investment in GBES 500 Investments 1,500 Unmatured debt 5,000 Other expenses 1,200 Payables 2,000 Prepaids 250 Receivables 750 Sales tax 1,750 Tangible capital assets 2,000 $11,500 $11,500
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Related Book For
Advanced Financial Accounting
ISBN: 978-0132928939
7th edition
Authors: Thomas H. Beechy, V. Umashanker Trivedi, Kenneth E. MacAulay
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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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