The ledger of Lazdowski Marketing Services has the following account balances at the companys year end, October
Question:
The ledger of Lazdowski Marketing Services has the following account balances at the company’s year end, October 31, 2024:
Instructions
a. Prepare a trial balance, with the accounts arranged in ledger (financial statement) order, as illustrated in the chapter, and determine the missing amount for service revenue.
b. Prepare an income statement, statement of owner’s equity, and balance sheet.
Taking It Further
The owner, Inga Lazdowski, is not sure how much cash she can withdraw from the company each year. After reviewing the financial statements, comment on the amount she withdrew this year.
Step by Step Answer:
Accounting Principles Volume 1
ISBN: 9781119786818
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak