Question
Omega Enterprises has provided you with the following transactions for the month of November. Prepare the General Ledger accounts, Trial Balance, and Income Statement for
Omega Enterprises has provided you with the following transactions for the month of November. Prepare the General Ledger accounts, Trial Balance, and Income Statement for the month. Assume all transactions are exclusive of taxes. Use the following table format:
Date | Account Title | Debit ($) | Credit ($) |
Nov 1 | Cash | 20,000 | |
Nov 5 | Sales Revenue | 25,000 | |
Nov 10 | Rent Expense | 3,000 | |
Nov 15 | Accounts Payable | 6,000 | |
Nov 20 | Utilities Expense | 1,500 | |
Nov 25 | Salary Expense | 4,000 | |
Nov 30 | Depreciation Expense | 900 |
Calculate the Trial Balance, Income Statement, and Taxes assuming a tax rate of 18%.
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