Assume that Harbor Marine Company reported the following summarized data at December 31, 2021. Accounts appear in
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Assume that Harbor Marine Company reported the following summarized data at December 31, 2021. Accounts appear in no particular order; dollar amounts are in millions.
Prepare the trial balance of Harbor Marine Company at December 31, 2021. List the accounts in their proper order. How much was the company’s net income or net loss?
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Other liabilities Other assets............. Expenses. Stockholders' equity. $2 20 26 5 Revenues...... Cash....... Accounts payable. $37
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Harbor Marine Companys net income 11 million 37 26 ...View the full answer
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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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