The adjusted trial balance for Roth Company is presented in E. Instructions (a) Prepare an income statement
Question:
The adjusted trial balance for Roth Company is presented in E.
Instructions
(a) Prepare an income statement and a retained earnings statement for the year.
(b) Prepare a classified balance sheet at July31.
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Transcribed Image Text:
Roth Company Adjusted Trial Balance July 31, 2014 No. Account Titles Debits Credits 10 Cash 112 Accounts Receivable 157 Equipment 167 Accumulated Depreciation-Equip. 20 Accounts Payable 208 Uncarned Rent Revenue 311 Common Stock 320 Retained Earnings 332 Dividends 404 Service Revenue 429 Rent Revenuc $ 9,840 8,140 15,900 S 5,400 2,220 3,800 18,000 20,260 12,000 64,000 6,500 7 Depreciation Expense 720 Salaries and Wages Expense 732 Utilities Expense 3,700 55,700 14,900 S120,180 $120,180
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Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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