Refer to the data in Short Exercise S-F:4-1. Prepare Daltons classified balance sheet at December 31, 2024.
Question:
Refer to the data in Short Exercise S-F:4-1. Prepare Dalton’s classified balance sheet at December 31, 2024. Assume the Notes Payable is due on December 1, 2031. Use the report form.
Short Exercise S-F:4-1
Dalton Hair Stylists’ adjusted trial balance follows. Prepare Dalton’s income statement for the year ended December 31, 2024.
DALTON HAIR STYLISTS Adjusted Trial Balance December 31, 2024 Account Title Cash Accounts Receivable Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Interest Payable Notes Payable Dalton, Capital Dalton, Withdrawals Service Revenue Rent Expense Supplies Expense Depreciation Expense-Equipment Interest Expense Total Balance Debit $ 1,300 1,500 1,800 20,900 1,400 3,900 850 2,200 2,300 $36,150 Credit $ 2,200 400 500 3,100 16,150 13,800 $ 36,150
Step by Step Answer:
Current Assets Cash Accounts Receivable Office Supplies ...View the full answer
Horngrens Accounting The Financial Chapters
ISBN: 9780136162186
13th Edition
Authors: Tracie Miller Nobles, Brenda Mattison
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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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