Prepare Quality Office's single-step income statement for the year ended March 31, 2018. The adjusted trial balance
Question:
The adjusted trial balance of Quality Office Systems at March 31, 2018, follows:
Transcribed Image Text:
QUALITY OFFICE SYSTEMS Adjusted Trial Balance March 31, 2018 Balance Account Title Debit Credit $ 3,700 Cash 13,300 Accounts Receivable Merchandise Inventory 31,500 Office Supplies 6,300 Equipment 42,900 $ 13,900 Accumulated Depreciation-Equipment Accounts Payable 9,200 Salaries Payable 800 Notes Payable, long-term 8,600 Common Stock 18,000 Retained Earnings 4,950 Dividends 41,500 Sales Revenue 235,700 Cost of Goods Sold 107,550 Selling Expense 27,400 Administrative Expense 14,200 Interest Expense 2,800 $ 291,150 $ 291,150 Total
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Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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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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