The adjusted trial balance for Lane Company is given in E3-15. Instructions Prepare Lane Company's income statement,
Question:
The adjusted trial balance for Lane Company is given in E3-15.
Instructions
Prepare Lane Company's income statement, statement of owner's equity, and balance sheet.
Transcribed Image Text:
Before Adjustment After Adjustment Debit S 9,100 Credit Credit 34,100 Accumulated depreciation-equipment 5 5,900 40,000 40,000 1,600 5,600 10,000 4 Depreciation expense 18,125 $101,625 $101,625 $106,055 $106,055
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LANE COMPANY Income Statement Year Ended October 31 2017 Revenues Service revenue 46230 Expenses Dep...View the full answer
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Related Book For
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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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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