The adjusted trial balance of G. G. Laundry Services as of November 30, 2020 is provided below: Debit Credit Cash $ 120,000 Accounts Recievable 38,400 Supplies 3,900 Office Equipment 110,000 Furniture & Fixture 78,500 Accumulated Depreciation $ 14,000 Accounts payable 43,000 G.G., Capital 293,800 Totals $350,800 $350,800 Requirement: Prepare the financial position statement of G. G. Laundry Services as of November 30, 2020 using the report form. Assume that the Capital already reflect the net income for the year.
The adjusted trial balance of G. G. Laundry Services as of November 30, 2020 is provided below: Debit Credit Cash $ 120,000 Accounts Recievable 38,400 Supplies 3,900 Office Equipment 110,000 Furniture & Fixture 78,500 Accumulated Depreciation $ 14,000 Accounts payable 43,000 G.G., Capital 293,800 Totals $350,800 $350,800 Requirement: Prepare the financial position statement of G. G. Laundry Services as of November 30, 2020 using the report form. Assume that the Capital already reflect the net income for the year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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100%
The adjusted
| Debit | Credit | |
| Cash | $ 120,000 | |
| Accounts Recievable | 38,400 | |
| Supplies | 3,900 | |
| Office Equipment | 110,000 | |
| Furniture & Fixture | 78,500 | |
| $ 14,000 | ||
| Accounts payable | 43,000 | |
| G.G., Capital | 293,800 | |
| Totals | $350,800 | $350,800 |
Requirement: Prepare the financial position statement of G. G. Laundry Services as of November 30, 2020 using the report form. Assume that the Capital already reflect the net income for the year.
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