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Glent Company prepared the following trial balance at its year end of August 3 1 , 2 0 2 2 . The company is owned
Glent Company prepared the following trial balance at its year end of August The company is owned by Judas Glent.
Glent Company
Trial Balance
August
Account Titles DR CR
Cash $
Accounts Receivable $
Merchandise Inventory $
Prepaid Expenses $
Store Equipment $
Accumulated DepreciationEquipment $
Accounts Payable $
Unearned Revenue $
Bank Loan $
Glent, Capital $
Glent, Withdrawals $
Sales Revenue $
Gain on Sale of Equipment $
Cost of Goods Sold $
Advertising Expense $
Depreciation ExpenseEquipment $
Interest Expense $
Office Salaries Expense $
Rent ExpenseRetail Space $
Rent ExpenseOffice Space $
Sales Salaries Expense $
Total $ $
Notes: Assume the balance of owner's equity is the opening balance. The bank loan is payable over years in equal annual installments.
Required
a Prepare a multistep income statement,statement of owners equity and balance sheet.
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