Update the trial balance for Kole?s Moving Co. (Figure 4.23 on page 135) for July 31, 201X.
Question:
Update the trial balance for Kole?s Moving Co. (Figure 4.23 on page 135) for July 31, 201X.
Adjustment Data to Update Trial Balance
1. Insurance expired, $800.
2. Moving supplies on hand, $1,200.
3. Depreciation on moving truck, $400.
4. Wages earned but unpaid, $220.
Your task is to:1. Complete a worksheet for Kole?s Moving Co. for the month of July.
2. Prepare an income statement for July, a statement of owner?s equity for July, and a balance sheet as of July 31, 201X.
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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