Question
The amounts below appeared in the Income Statement and Balance Sheet columns of a company's December 31 work sheet. prepare the post-closing trial balance Income
The amounts below appeared in the Income Statement and Balance Sheet columns of a company's December 31 work sheet. prepare the post-closing trial balance
|
| Income Statement | Balance Sheet | ||
|
| Debit | Credit | Debit | Credit |
| Cash |
|
| 7,500 |
|
| Accounts receivable |
|
| 4,500 |
|
| Liabilities |
|
|
| 3,000 |
| Kate Smith, capital |
|
|
| 7,500 |
| Kate Smith, withdrawals |
|
| 1,500 |
|
| Sales |
| 19,500 |
|
|
| Salaries expense | 11,250 |
|
|
|
| Other operating expenses | 5,250 | ______ | ______ | _____ |
|
| 16,500 | 19,500 | 13,500 | 10,500 |
| Net income | 3,000 | ______ | ______ | 3,000 |
|
| 19,500 | 19,500 | 13,500 | 13,500 |
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Auditing
Authors: Alan Millichamp, John Taylor
11th Edition
1473749301, 978-1473749306
