Assume you work in the accounting department at Marshall, Inc. Your boss has asked you to prepare
Question:
Assume you work in the accounting department at Marshall, Inc. Your boss has asked you to prepare a trial balance as of November 30, 2003, using the following account balances from the company’s ledger. Prepare the trial balance and insert the missing amount for Cost of Goods Sold. ACcounts Payable evn eres Accounts Receivable......... Advertising Expense......... BulllGiviGSeueesmacarmncesa cereus ue CapitaliStocka spec... sates oo Equipment: eens aby ret IMWEMCO RM) Posten a cee eA: _. $ 55,000 NotesiBayable: eae.) eee $250,000 - 25,000 Notes Receivable ............. 20,000 a 5,000 OthemExpenseSs neers ie 1,000 we 150,000 PRopentValaxXcex PENSChmataeisnen net: 1,500 be 173,000 RenwEXpenS@ycncic ees sere sete 7,500 E2 35,000 RetainedEanningSa....2. ser =o. 40,000 a it SalarieSieXPEMSCuse eeierecne iene: 155,000 wy. 55,000 Salaniestay.ableyene einen eter: 2,000 ee 200,000 Sales Revenue ...........++55 375,000 eee 25/000 Short-Term Investments........ 15,000 ae 95,000 WtilittesiExpense sas. . 06. ee a=. 7,000
Step by Step Answer:
Financial Accounting
ISBN: 9780324066708
8th Edition
Authors: W. Steven Albrecht, James D. Stice, Earl Kay Stice, K. Fred Skousen, Albrecht S.E.