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Should the balance on the General Journal Entries, Trial Balance and Balance Sheet have the same ending balance? A Company General Journal Entries Trial Balance
Should the balance on the General Journal Entries, Trial Balance and Balance Sheet have the same ending balance?
A Company General Journal Entries Trial Balance As of 03/31/20XX A Company Balance Sheet As of March 31,20XX Assets Liabilities and Owners' Equity Current Assets: Current Liabilities: \begin{tabular}{|l|r|} \hline Cash & 138,515.00 \\ \hline Accounts Receivable & 3,500.00 \\ \hline Prepaid Rent & 950.00 \\ \hline Office Supplies & 215.00 \\ \hline & \\ \hline Total Current Assets & 143,180.00 \\ \hline \end{tabular} \begin{tabular}{|l|r|} \hline Accounts Payable & 135.00 \\ \hline Wages Payable & 275.00 \\ \hline Total Current Liabilities & 410.00 \\ \hline Long Term Liabilities: & \\ Notes Payable & 125,000.00 \\ \hline Total Long Term Liabilities: & 125,000.00 \\ \hline \end{tabular} \begin{tabular}{|l|r|} \hline Total Liabilities: & 125,410.00 \\ \hline \end{tabular} Non-Current Assets: Owner's Equity \begin{tabular}{|l|r|} \hline Office Furniture & 2,750.00 \\ \hline Accumulated Depreciation & (45.83) \\ \hline Total Non Current/Fixed Assets & 2,704.17 \\ \hline \end{tabular} \begin{tabular}{|l|r|} \hline Owner's Equity & 20,474.17 \\ \hline & \\ \hline Total Equity & \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline Total Assets: & 145,884.17 \\ \hline \end{tabular} \begin{tabular}{|l|r|} \hline Total Liabilities \& Equity & 145,884.17 \\ \hline \end{tabular}Step by Step Solution
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