Refer to E3-12. E3-12 Ricky's Piano Rebuilding Company has been operating for one year (2012). At the
Question:
E3-12
Ricky's Piano Rebuilding Company has been operating for one year (2012). At the start of 2013, its income statement accounts had zero balances and its balance sheet account balances were as follows
Cash........................... $ 6,000................ Accounts Payable........... $ 8,000
Accounts Receivable......... 25,000.... Unearned Revenue (deposits)........... 3,200
Supplies......................... 1,200...................... Notes Payable.......... 40,000
Equipment..................... 8,000................ Contributed Capital............8,000
Land............................ 6,000................... Retained Earnings.......... 9,000
Building....................... 22,000
Required:
Use the balances in the completed T-accounts in E3-12 to prepare an unadjusted trial balance at the end of January 2013.
Balance Sheet
Balance 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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Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025372
4th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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