The list that follows presents Shah Companys accounts (in alphabetical order) as of March 31, 2014. The
Question:
Prepare a trial balance with the proper heading (see Exhibit 7)
And with the accounts listed in the chart of accounts sequence (see Exhibit 2).
Compute the balance of AccountsPayable.
Transcribed Image Text:
A. Shah, Capital Accounts Receivable Building Cash $18,870 1,800 20,400 5,400 Equipment Land Notes Payable Prepaid Insurance 7,200 3,120 12,000 660 Roland Consultancy Statement of Owner's Equity For the Month Ended December 31, 2014 T. Roland, capital, December 1, 2014 Investment by T. Roland Net income for the month Subtotal Less withdrawals T. Roland, capital, December 31, 2014 0 200,000 8400 $208,400 2400 $206,000 Country Australia (dollar) Brazil (real) Britain (pound) Canada (dollar) European Union (euro) Price in şU.S 1.07 0.58 1.59 1.00 1.32 Country Hong Kong (dollar) Japan (yen) Mexico (peso) Russia (ruble) Singapore (dollar) Price in $U.S. 0.13 0.012 0.08 0.03 0.79 Source: The Wall Street Journal, February 18, 2012.
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Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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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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