A list of accounts and their balances of O'Neill's Psychological Services, at its year end July 31,
Question:
A list of accounts and their balances of O'Neill's Psychological Services, at its year end July 31, 2017, is presented below.
Instructions
(a) Prepare a trial balance in financial statement order.
(b) Prepare an income statement, statement of owner's equity, and balance sheet.
Supplies Unearned Revenue Supplies Expense Cash Accounts Receivable Accounts Payable Rent Expense $ 790 1,350 5,960 6,470 7,340 9,030 10,880 Notes Payable Salaries Expense TC)'Neill, Drawings Equipment T. O'Neill, Capital Service Revenue $22,960 45,540 57,980 58,900 64,340 96,180
Step by Step Answer:
a ONEILLS PHYCHOLOGICAL SERVICES Trial Balance July 31 2017 Debit Credit Cash 6470 Accounts receivable 7340 Supplies 790 Equipment 58900 Notes payable ...View the full answer
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
Related Video
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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