Cycle Travel Tours showed the following trial balance information (in alphabetical order) for its first month just
Question:
Cycle Travel Tours showed the following trial balance information (in alphabetical order) for its first month just ended March 31, 2020:
Required
Use the information provided to complete an income statement, statement of changes in equity, and balance sheet.
Account Debit Credit Accounts payable. $ 430 Accounts receivable. $1,880 Cash. 430 630 Equipment.. Interest expense. 10 ......... Francois Laneuv, capital. 1,980 .... Francois Laneuv, withdrawals 1,430 Notes payable. Prepaid insurance. 1,030 230 Salaries expense. 730 ...... ***** Service revenue.. 1,510 *... Unearned service revenue. 390 Totals. $5,340 $5,340
Step by Step Answer:
Revenues Service revenue Operating expenses Salaries expense Interest expe...View the full answer
Fundamental Accounting Principles Volume I
ISBN: 978-1260305821
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
Related Video
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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