From the following Company A adjusted trial balance, prepare simple financial statements, as follows: A. Income Statement
Question:
From the following Company A adjusted trial balance, prepare simple financial statements, as follows:
A. Income Statement
B. Retained Earnings Statement
C. Balance Sheet
Transcribed Image Text:
Adjusted Trial Balance Debit Cash Accounts receivable Prepaid insurance Accounts payable Salaries payable Common stock Service revenue Administrative expenses $ 42,000 11,300 14,800 42,800 110,900 Credit $ 10,900 14,000 25,000 61,000 110,900
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A Income Statement Account Name Debit Credit Service Revenue 61000 Administra...View the full answer
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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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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