Blackburn Inc.'s trial balance follows: Compute these amounts for Blackburn: 1. Total assets 2. Total liabilities 3.
Question:
Blackburn Inc.'s trial balance follows:
Compute these amounts for Blackburn:
1. Total assets
2. Total liabilities
3. Total shareholders' equity
4. Net income or loss during June
Transcribed Image Text:
Blackburn Inc. Trial Balance June 30, 2014 Credit Accounts receivable ent $ 19,000 Note payable Share capital Service revenue Salary expense 2 expense $127,000 $127,000
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Related Book For
Financial Accounting
ISBN: 978-0133472264
5th Canadian edition
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin
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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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