Using the account balances from Exercise 3.5, prepare a trial balance and an income statement for Housing Locators. The trial balance is for December 31, 2016, and the income statement is for the month ended December 31, 2016.
Answer to relevant QuestionsFrom the trial balance and the net income or net loss determined in Exercise 3.6, prepare a statement of owner’s equity and a balance sheet for Housing Locators as of December 31, 2016. In Exercise 3.6, Using the account ...The following accounts and transactions are for Horace Brock, Landscape Consultant.INSTRUCTIONSAnalyze the transactions. Record each in the appropriate T accounts. Use plus and minus signs in front of the amounts to show the ...At the beginning of the summer, Jack Wells was looking for a way to earn money to pay for his college tuition in the fall. He decided to start a lawn service business in his neighborhood. To get the business started, Jack ...Record the following transactions of Lisa’s Fashion Boutique in a general journal:DATE TRANSACTIONS2016Feb. 2 Sold merchandise totaling $3,800 to customers using bank credit cards. Record the 2 percent discount on credit ...Incredible Sounds is a wholesale business that sells musical instruments. Transactions involving sales and cash receipts for the firm during April 2016 follow. The firm sells its merchandise for cash and on open account. ...
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