Sharon Kors needs a loan from her local bank to help finance her business. She has submitted
Question:
Sharon Kors needs a loan from her local bank to help finance her business. She has submitted the following unadjusted trial balance to the bank, for the month of August. As the loan officer, you will be meeting with Sharon tomorrow. Could you make some specific written suggestions to Sharon regarding her loan report?
Cash in Bank Accounts Receivable Office Supplies Equipment Accounts Payable S. Kors, Capital Service Fees Salaries Utilities Expense Rent Expense Insurance Expense Advertising Expense Totals 770 1,480 3,310 7,606 11,240 842 360 280 146 $26,034 684 8,000 17,350 $26,034
Step by Step Answer:
1 Request to see current as well as past financial reports Una...View the full answer
College Accounting A Practical Approach
ISBN: 9780135222416
14th Canadian Edition
Authors: Jeffrey Slater, Debra Good
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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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