Bank of America

Unadjusted Trial Balance as at 30 June 2023

	Debit ($)	Credit ($)
Cash	60,000
Accounts Receivable	70,000
Inventory	80,000
Equipment	500,000
Accumulated Depreciation - Equipment		100,000
Accounts Payable		60,000
Notes Payable		80,000
Common Stock		300,000
Retained Earnings		120,000
Sales Revenue		500,000
Cost of Goods Sold	300,000
Rent Expense	50,000
Salaries Expense	60,000
Total	1,350,000	1,350,000

Required:

1. Prepare the Ledger Accounts for the above unadjusted trial balance.
2. Calculate the Adjusted Trial Balance.
3. Prepare the Income Statement for the period ended 30 June 2023.