The account balances (after adjustments) from the general ledger of Winterholt Company at September 30, 2021, follow

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The account balances (after adjustments) from the general ledger of Winterholt Company at September 30, 2021, follow in alphabetical order. All accounts have normal balances.

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a. Prepare an adjusted trial balance.

b. Beside each account, identify whether it is an asset (A), liability (L), capital (C), drawing (D), revenue (R), or expense (E).

c. Beside each account, identify whether it should be included on the income statement (IS), statement of owner?s equity (OE), or balance sheet (BS).

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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Accounting Principles Volume 1

ISBN: 978-1119502425

8th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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