From the trial balance of Gabriella Leitz, Attorney-at-Law, given in Figure 2.7, prepare (a) An income statement
Question:
From the trial balance of Gabriella Leitz, Attorney-at-Law, given in Figure 2.7, prepare
(a) An income statement for the month of January,
(b) A statement of owner’s equity for the month ended January 31, and
(c) A balance sheet at January 31, 202X.
Transcribed Image Text:
Cash Accounts Receivable Office Equipment Accounts Payable Salaries Payable G. Leitz, Capital G. Leitz, Withdrawals Revenue from Legal Fees Utilities Expense Rent Expense Salaries Expense Totals GABRIELLA LEITZ, ATTORNEY-AT-LAW TRIAL BALANCE JANUARY 31, 202X Account Debit 70000 0 180000 50000 Credit - 220000 95000 460000 40000 15000 35000 15000 935000 935000 160000
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Related Book For
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780137504282
15th Edition
Authors: Jeffrey Slater, Mike Deschamps
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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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