Holly?s Accounting Services showed the following trial balances for her first month just ended July 31, 2020.
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Holly?s Accounting Services showed the following trial balances for her first month just ended July 31, 2020. Use this information to complete an income statement, a statement of owner?s equity, and a balance sheet.
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HOLLY'S ACCOUNTING SERVICES TRIAL BALANCE JULY 31, 2020 Dr. Cr. Cash $2,000 Accounts Receivable 1,900 Prepaid Insurance Office Equipment Accounts Payable 600 1,400 $520 Loan Payable H. Good, Capital H. Good, Withdrawals Accounting Fees Earned Salaries Expense 1,600 5,480 1,500 2,000 1,600 Rent Expense 600 Total $9,600 $9,600
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Related Book For
College Accounting A Practical Approach
ISBN: 978-0134166698
13th 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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