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I'm having issues determining the total debit, net income, total owners equity, total liabilities and total assets. Every time I try to calculate it it
I'm having issues determining the total debit, net income, total owners equity, total liabilities and total assets. Every time I try to calculate it it always ended up wrong.
were taken from the Adjusted Trial Balance of Mary Corp. for the fiscal year ending December 31, 2011 Cash S 40,000 Prepaid Rent Rent Expense 3.000 5,500 Accumulated Depreciation - Equipment Equipment 45,000 - 5,000 Interest Payable Accounts Payable 3,000 1,000 Wages Payable 2,000 Common Stock 55,000 Retained Eamings, 1/1/2011 6,000 Dividends 1,500 Service Revenue 40,000 Notes Payable, Due 5/1/2015 20,000 Accounts Receivable 17,500 - Interest Expense 1,000 Wages Expense 17,000 - Depreciation Expense -- Equipment 3,500 Uneared Service Revenue 2,000 Each of these accounts has the normal debitor credit balanceStep by Step Solution
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