The following are selected accounts for McPhan Company as reported in the worksheet using a perpetual inventory
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Instructions
Complete the worksheet by extending amounts reported in the adjusted trial balance to the appropriate columns in the worksheet. Do not total individual columns.
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Adjusted Trial Income Statement Balance Accounts Balance Sheet Dr. Cr. Cr. Cr. Dr. Dr. Cash 11,000 76,000 Inventory Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold 480,000 10,000 9,000 300,000
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Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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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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