A list of accounts and their balances of O’Neill’s Psychological Services, at its year end July 31, 2024, is presented below.

Instructions

a. Prepare a trial balance in financial statement order.

b. Prepare an income statement, statement of owner’s equity, and balance sheet.

Transcribed Image Text:

Supplies Unearned Revenue Supplies Expense Cash Accounts Receivable Accounts Payable Rent Expense $ 790 1,350 5,960 6,470 7,340 9,030 10,880 Notes Payable Salaries Expense T. O'Neill, Drawings Equipment T. O'Neill, Capital Service Revenue $22,960 45,540 57,980 58,900 64,340 96,180