Quality Service Systems Adjusted Trial Balance March 31, 2018 Account Title Cash Accounts Receivable Merchandise Inventory Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Notes Payable, long-term Mullen, Capital Mullen, Withdrawals Sales Revenue Cost of Goods Sold Selling Expense Administrative Expense Interest Expense Total $ (A Debit Balance 2,800 13,400 31,900 6,000 42,200 39,000 108,450 27,700 14,800 2,400 288,650 $ Credit 13,500 9,600 1,050 8,300 15,200 241,000 288,650
Quality Service Systems Adjusted Trial Balance March 31, 2018 Account Title Cash Accounts Receivable Merchandise Inventory Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Notes Payable, long-term Mullen, Capital Mullen, Withdrawals Sales Revenue Cost of Goods Sold Selling Expense Administrative Expense Interest Expense Total $ (A Debit Balance 2,800 13,400 31,900 6,000 42,200 39,000 108,450 27,700 14,800 2,400 288,650 $ Credit 13,500 9,600 1,050 8,300 15,200 241,000 288,650
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Prepare Quality's single-step income statement for the year ended March 31, 2018.
Net Income (Loss)
Quality Service Systems
Income Statement
Year Ended March 31, 2018

Transcribed Image Text:Account Title
Cash
Accounts Receivable
Merchandise Inventory
Office Supplies
Equipment
Accumulated Depreciation-Equipment
Quality Service Systems
Adjusted Trial Balance
March 31, 2018
Accounts Payable
Salaries Payable
Notes Payable, long-term
Mullen, Capital
Mullen, Withdrawals
Sales Revenue
Cost of Goods Sold
Selling Expense
Administrative Expense
Interest Expense
Total
$
Debit
Balance
2,800
13,400
31,900
6,000
42,200
39,000
Credit
13,500
9,600
1,050
8,300
15,200
241,000
108,450
27,700
14,800
2,400
$ 288,650 $ 288,650
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