A list of accounts and their balances of ONeills Psychological Services, at its year end July 31,
Question:
A list of accounts and their balances of O’Neill’s Psychological Services, at its year end July 31, 2024, is presented below.
Instructions
a. Prepare a trial balance in financial statement order.
b. Prepare an income statement, statement of owner’s equity, and balance sheet.
Supplies Unearned Revenue Supplies Expense Cash Accounts Receivable Accounts Payable Rent Expense $ 790 1,350 5,960 6,470 7,340 9,030 10,880 Notes Payable Salaries Expense T. O'Neill, Drawings Equipment T. O'Neill, Capital Service Revenue $22,960 45,540 57,980 58,900 64,340 96,180
Step by Step Answer:
a b ONEILLS PHYCHOLOGICAL SERVICES Trial Balance July 31 2024 Cash Acc...View the full answer
Accounting Principles Volume 1
ISBN: 9781119786818
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
Related Video
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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