From the following trial balance of Hills Cleaners (Figure), prepare the following: 1. Income statement 2. Statement
Question:
1. Income statement
2. Statement of owners equity
3. Balancesheet
Transcribed Image Text:
HILL'S CLEANERS TRIAL BALANCE MAY 31, 201X Dr. Cr Cash Equipment Accounts Payable J. Hill, Capital J. Hill, Withdrawals Cleaning Fees Salaries Expense Utilities Expense 80000 108600 230 1500 10000 17 100 21 이이 100 Totals 00100
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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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