From the following Company B adjusted trial balance, prepare simple financial statements, as follows: A. Income Statement
Question:
From the following Company B 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 $ 77,800 19,500 7,650 Cash Accounts receivable Supplies Accounts payable Taxes payable Common stock Fees earned revenue Operating expense 39,200 144,150 Credit $ 8,500 5,350 35,000 95,300 144,150
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A Income Statement Account Name Debit Credit Fees Earned Revenue 144150 Ope...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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