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Analyze the following transactions for Omicron Corporation for the month of November and prepare the General Ledger accounts, Trial Balance, and Income Statement. Date Account

Analyze the following transactions for Omicron Corporation for the month of November and prepare the General Ledger accounts, Trial Balance, and Income Statement.

Date

Account Title

Debit ($)

Credit ($)

Nov 1

Cash


120,000

Nov 5

Purchases

50,000


Nov 10

Sales Revenue


140,000

Nov 15

Rent Expense

14,000


Nov 20

Accounts Payable

30,000


Nov 25

Utilities Expense

7,000


Nov 30

Depreciation Expense

4,000


Calculate the Trial Balance, Income Statement, and Taxes assuming a tax rate of 18%.

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