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from trial balance prepare income statement and balance sheet Trial Balance Debit 36,000 Credit Cash Bank 100,000 Accounts Receivable 35,000 Supplies / Purchase 45,000 Wages
from trial balance prepare income statement and balance sheet
Trial Balance Debit 36,000 Credit Cash Bank 100,000 Accounts Receivable 35,000 Supplies / Purchase 45,000 Wages 15,000 Rent 27,000 Equipment 225,000 Furniture 55,000 Creditors 55,000 Bank Loan 150,000 Shares 100,000 Accounts Payable 48,000 Owner, Capital 158,000 Owner, Drawing 5,000 Sales 100,000 Salary Expense 5,000 Misc. Expense 15,000 Electricity Expenses 25,000 Courier Charges/Exp 10,000 Telephone Expenses 8,000 Stationery Expenses 5,000 Sales Return 1,000 Purchase Return 1,000 Total 612,000 612,000 Adjustment 1] Prepaid Rent was 500, Prepaid Electricity was 2] Salary outstanding was 500, wages 0/S was 1500 3] Stock on 31st December was 2500 4] Depreciate Equipment and Furniture by 15%
from trial balance prepare income statement and balance sheet
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