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Glent Company prepared the following adjusted trial balance at its year-end of October 31, 2016. The company is owned by Bruce Glent. That not correct
Glent Company prepared the following adjusted trial balance at its year-end of October 31, 2016. The company is owned by Bruce Glent.
That not correct answers can I get the answers?
Account Titles DR CR Cash $14,700 Accounts Receivable $6,100 Inventory $6,900 Prepaid Expenses $2,100 Equipment $39,700 Accumulated Depreciation $2,500 Accounts Payable $6,700 Unearned Revenue $5,700 Bank Loan $9,000 Glent, Capital $33,970 Glent, Drawings $1,900 Sales Revenue $52,930 Gain on Sale of Equipment| $4,100 Cost of Sales $18,300 Depreciation Expense $2,500 Interest Expense $600 Maintenance Expense $1,300 Rent Expense $10,700 Salaries Expense $10,100 Total $ 114,900 $114,900 Sales Revenue $ 52930 Cost of Sales $ 18300 Gross Profit $ 34630 Operating Expenses Depreciation Expense $ 2500 Maintenance Expense . $ 1300 > Rent Expense $ 10700 > Salaries Expense $ 10100 Total Operating Expenses $ 24600 Operating Income $ 10030 Other Revenues and Expenses Gain on Sale of Equipment - $ 2500 Interest Expense $ 600 Total Other Revenues and Expenses $ 1900 Net Income $ 11930 Account Titles DR CR Cash $14,700 Accounts Receivable $6,100 Inventory $6,900 Prepaid Expenses $2,100 Equipment $39,700 Accumulated Depreciation $2,500 Accounts Payable $6,700 Unearned Revenue $5,700 Bank Loan $9,000 Glent, Capital $33,970 Glent, Drawings $1,900 Sales Revenue $52,930 Gain on Sale of Equipment| $4,100 Cost of Sales $18,300 Depreciation Expense $2,500 Interest Expense $600 Maintenance Expense $1,300 Rent Expense $10,700 Salaries Expense $10,100 Total $ 114,900 $114,900 Sales Revenue $ 52930 Cost of Sales $ 18300 Gross Profit $ 34630 Operating Expenses Depreciation Expense $ 2500 Maintenance Expense . $ 1300 > Rent Expense $ 10700 > Salaries Expense $ 10100 Total Operating Expenses $ 24600 Operating Income $ 10030 Other Revenues and Expenses Gain on Sale of Equipment - $ 2500 Interest Expense $ 600 Total Other Revenues and Expenses $ 1900 Net Income $ 11930Step by Step Solution
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