The following trial balance was prepared incorrectly. a.?Rearrange the accounts in the proper order.b. Calculate the total
Question:
The following trial balance was prepared incorrectly.
a.?Rearrange the accounts in the proper order.b. Calculate the total of the trial balance. (Small numbers are used intentionally so that you can do the calculations in your head.) Assume that each account has a normal balance.
Lee Company Trial Balance October 31, 2020 Cr. Dr. D. Lee, Capital Equipment Rent Expense Advertising Expense Accounts Payable 30 112 17 3 108 Taxi Fare Income 16 Cash 17 D. Lee, Withdrawals Totals 133 175
Step by Step Answer:
Cash Equipment Accounts Payable D Lee Capit...View the full answer
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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