The trial balance below has been prepared as at 31 May 2023. Calculate profit or loss for
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Question:
The trial balance below has been prepared as at 31 May 2023. Calculate profit or loss for the month.
(If the answer is a loss, please use a minus sign in front of your answer e.g. -1000)
Account Name | Debit | Credit |
---|---|---|
Accounts Payable | 1,350 | |
Accounts Receivable | 36,000 | |
Accumulated Depreciation - Equipment | 8,200 | |
Capital | 78,350 | |
Cash at Bank | 5,000 | |
Depreciation Expense - Equipment | 150 | |
Drawings | 21,250 | |
Electricity Expense | 1,950 | |
Equipment | 40,200 | |
Interest expense | 9,420 | |
Land | 14,000 | |
Loan Payable | 33,370 | |
Service Fees Revenue | 38,700 | |
Wages Expense | 32,000 | |
159,970 | 159,970 |
Posted Date: