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Sally Livaskani has a storage organization business called Livaskani Design. Please see below the chart of accounts with balances for the year ended Dec 31,

Sally Livaskani has a storage organization business called Livaskani Design.

Please see below the chart of accounts with balances for the year ended Dec 31, Year 2022 in alphabetical order:

Livaskani Design

TRIAL BALANCE

December 31st, 2022

Account name

Debit

Credit

$

$

Accounts Payable

30,000

Accounts Receivable

58,000

Accumulated Depreciation – Equipment

10,000

Advertising Expense

17,000

Cash

54,000

Capital, Livaskani

109,000

Depreciation Expenses

6,000

Equipment

60,000

Goodwill

60,000

Income tax expense

7,000

Income tax payable

7,000

Note Payable (instalments of $2,000/year)

20,000

Office and general expense

22,000

Prepaid Rent

10,000

Rent Expense

80,000

Revenues

630,000

Salary Expense

414,000

Travel Expense

37,000

Unearned Service Revenue

19,000

Totals

825,000

825,000


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