Question
Eta Enterprises has provided you with the following transactions for the month of April. Prepare the General Ledger accounts, Trial Balance, and Income Statement for
Eta Enterprises has provided you with the following transactions for the month of April. Prepare the General Ledger accounts, Trial Balance, and Income Statement for the month. Assume all transactions are exclusive of taxes. Use the following table format:
Date | Account Title | Debit ($) | Credit ($) |
April 1 | Cash | 40,000 | |
April 5 | Sales Revenue | 45,000 | |
April 10 | Rent Expense | 5,000 | |
April 15 | Accounts Payable | 10,000 | |
April 20 | Utilities Expense | 2,000 | |
April 25 | Salary Expense | 6,000 | |
April 30 | Depreciation Expense | 1,500 |
Calculate the Trial Balance, Income Statement, and Taxes assuming a tax rate of 20%.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started