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Below is the company's unadjusted trial balance as of December 31 2023. Cash Accounts receivable Allowance for doubtful accounts. Merchandise Inventory Interior Design Company
Below is the company's unadjusted trial balance as of December 31 2023. Cash Accounts receivable Allowance for doubtful accounts. Merchandise Inventory Interior Design Company Unadjusted Trial Balance December 31, 2023 Debit $ 32,000 Credit 47,000 $ 6,128 35,000 Trucks 40,000 Equipment 50,000 Accounts payable 57,400 Long-term notes payable 20,000 Common Shares 30,000 Retained Earnings 13,804 Consulting revenue 140,000 Interest revenue 872 Sales 270,000 Cost of goods sold 162,000 Wages expense 89,000 Rent expense 33,000 Miscellaneous expenses 12,404 Repairs expense 26,000 Utilities expense 11,800 Totals $538,204 $538,204 Part 1 Required: Using the information in the Unadjusted Trial balance, calculate the amounts below and show all details that make up your total: i. Calculate total revenues (show details) ii. Calculate total expenses (show details) iii. Calculate profit or loss (show details)
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