The adjusted trial balance for Turnquist Company is provided. Instructions Prepare the income and owner?s equity statements
Question:
The adjusted trial balance for Turnquist Company is provided.
InstructionsPrepare the income and owner?s equity statements for the year and the balance sheet at August 31.
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Turnquist Company Adjusted Trial Balance August 31, 2022 Debit Credit Cash $10,400 Accounts Receivable 11,000 Supplies 900 2,500 Prepaid Insurance Equipment 14,000 $ 4,500 Accumulated Depreciation-Equipment Accounts Payable 5,800 Salaries and Wages Payable Owner's Capital 1,100 15,600 Service Revenue 33,700 Supplies Expense Depreciation Expense Insurance Expense 1,400 900 1,500 Salaries and Wages Expense 18,100 $60,700 $60,700
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33700 18100 1500 1400 900 11800 Serv rev Sal wages exp Ins exp Supp exp Depr exp ...View the full answer
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Related Book For
College Accounting
ISBN: 1986
1st Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, 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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