The following is the trail balance for United Company as at 31/12/2014. Account Name DR CR Cash
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Question:
The following is the trail balance for United Company as at 31/12/2014.
| Account Name | DR | CR |
| Cash | 290,000 |
|
| Notes receivable | 20,000 |
|
| Notes payable |
| 20,000 |
| Salaries and Wages | 50,000 |
|
| Rent revenues |
| 140,000 |
| Long-Term Loans |
| 180000 |
| Capital |
| 105,000 |
| Land | 95,000 |
|
| Maintenance | 20000 |
|
| Car | 30,000 |
|
| Services revenues |
| 60,000 |
| Total | 505,000 | 505,000 |
Required:
A- Prepare income statement
B- Prepare Balance sheet
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