Below is the complete list of accounts of Cobras Incorporated and the related balance at the end of March. All accounts have their normal debit or credit balance. Supplies, $1,000; Buildings, $52,000; Salaries Payable, $500; Common Stock, $32,000; Accounts Payable, $2,050; Utilities Expense, $3,400; Prepaid Insurance, $1,200; Service Revenue, $19,200; Accounts Receivable, $3,900; Cash, $3,200; Salaries Expense, $6,100; Retained Earnings, $17,050. Required: Prepare a trial balance with the list of accounts in the following order: assets, liabilities, stockholders' equity, revenues, and expenses. COBRAS INCORPORATED Trial Balance Accounts March 31 Debit Credit Totals $ 0 $ 0

Below is the complete list of accounts of Cobras Incorporated and the related balance at the end of March. All accounts have their normal debit or credit balance. Supplies, $1,000; Buildings, $52,000; Salaries Payable, $500; Common Stock, $32,000; Accounts Payable, $2,050; Utilities Expense, $3,400; Prepaid Insurance, $1,200; Service Revenue, $19,200; Accounts Receivable, $3,900; Cash, $3,200; Salaries Expense, $6,100; Retained Earnings, $17,050. Required: Prepare a trial balance with the list of accounts in the following order: assets, liabilities, stockholders' equity, revenues, and expenses. COBRAS INCORPORATED Trial Balance Accounts March 31 Debit Credit Totals $ 0 $ 0

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 10RE: On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to...

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