The adjusted trial balance for Party Planner Catering, Inc., is presented next. Prepare the income statement and
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The adjusted trial balance for Party Planner Catering, Inc., is presented next. Prepare the income statement and statement of retained earnings for Party Planner Catering, Inc., for the month ended October 31, 201 2. Also prepare the balance sheet at October 31,2012.
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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Party Planner Catering, Inc. Adjusted Trial Balance October 31, 2012 ACCOUNT Cash Accounts Receivable Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Depreciation Expense, Equipment Supplies Expense Total DEBIT CREDIT $10,200 4.700 1,300 24,000 6,800 2.500 1,000 2,600 1,500 15.600 1,900 18,400 4.400 1,000 600 300 $48,400 $48,400
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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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