Prepare Trial balance, Income Statement & Balance sheet with the help of the following ledger balances on December 31, 2018. Cash 15,000 SR, Accounts Receivable- 10,000 SR, Accounts Payable- 5,000 SR, Salary Payable- 10,000 SR, Service revenue- 14,000 SR, Advertising Expenses - 5,000 SR, Plant- 25,000 SR, Prepaid Insurance- 7,000 SR, Rashids Capital- 35,500 SR, Repair Expenses- 2,500 SR

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter3: The Double-entry Framework
Section: Chapter Questions
Problem 4CE: The following accounts have normal balances. Prepare a trial balance. Accounts Payable, 20; Accounts...
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Prepare Trial balance, Income Statement & Balance sheet with the help of the following ledger
balances on December 31, 2018. Cash 15,000 SR, Accounts Receivable- 10,000 SR, Accounts
Payable- 5,000 SR, Salary Payable- 10,000 SR, Service revenue- 14,000 SR, Advertising Expenses
- 5,000 SR, Plant- 25,000 SR, Prepaid Insurance- 7,000 SR, Rashids Capital- 35,500 SR, Repair
Expenses- 2,500 SR
Transcribed Image Text:Prepare Trial balance, Income Statement & Balance sheet with the help of the following ledger balances on December 31, 2018. Cash 15,000 SR, Accounts Receivable- 10,000 SR, Accounts Payable- 5,000 SR, Salary Payable- 10,000 SR, Service revenue- 14,000 SR, Advertising Expenses - 5,000 SR, Plant- 25,000 SR, Prepaid Insurance- 7,000 SR, Rashids Capital- 35,500 SR, Repair Expenses- 2,500 SR
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