The adjusted trial balance of Levin Corporation at December 31, 2025, includes the following accounts: Retained Earnings
Question:
The adjusted trial balance of Levin Corporation at December 31, 2025, includes the following accounts: Retained Earnings $17,200, Dividends $6,000, Service Revenue $32,000, Salaries and Wages Expense $14,000, Insurance Expense $1,800, Rent Expense $3,900, Supplies Expense $1,500, and Depreciation Expense $1,000. Prepare an income statement for the year.
Step by Step Answer:
Revenues Service revenue Expenses LEVIN CORPORATION Income Statem...View the full answer
Accounting Tools For Business Decision Making
ISBN: 9781119791058
8th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Jill E. Mitchell
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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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