Question
hi, i neeed help with this. Using your T-Accounts worksheet balances from the previous assignment, prepare a handwritten Trial Balance . Remember to put a
Using your T-Accounts worksheet balances from the previous assignment, prepare a handwritten Trial Balance.
Remember to put a three line heading on it (name of the "statement" is just Trial Balance, and the date is the last day of the month - May in this case. Choose any four-digit year you want. There is a form in the Angel's Delivery Service module if you'd like to use it, but it's not required. Notebook paper is just fine.
1b. The debits should equal the credits. If they don't, review the Chapter 2 Lectures Module for a lecture on help with Trial Balance Errors. You may also ask me or a fellow student for assistance, as a fresh set of eyes can often find an error. (This is not a group assignment, however, so you must do your own work.)
Prepare the Financial Statements:
2. Using the Trial Balance, prepare a properly formatted Income Statement (Chapter 1), a Statement of Owner's Equity balance, remember that Alice opened her business during the day on May 1st, so how much equity was there at the very beginning of the day, before she opened the bank account? Did sheinvest any money in the company?), and prepare a Balance Sheet
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