Question
The post-closing trial balances of two proprietorships on January 1, 2017, are presented below. Sorensen Company Lucas Company Dr. Cr. Dr. Cr. Cash $11,000 $9,100
The post-closing trial balances of two proprietorships on January 1, 2017, are presented below.
| Sorensen Company | Lucas Company | |||||||
| Dr. | Cr. | Dr. | Cr. | |||||
| Cash | $11,000 | $9,100 | ||||||
| Accounts receivable | 13,500 | 20,000 | ||||||
| Allowance for doubtful accounts | $2,300 | $3,300 | ||||||
| Inventory | 20,000 | 14,000 | ||||||
| Equipment | 34,000 | 22,000 | ||||||
| Accumulated depreciation | ||||||||
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Research Methods And Audit In General Practice
Authors: David Armstrong, John Grace
1st Edition
0192624547, 978-0192624543
