Dividends 3,650 Service Revenue 15,500 Salaries and Wages Expense 10,500 Rent Expense 750 Depreciation Expense 650 Interest Expense 70 Interest Payable 70 Totals 59,400 59,400 (a1) Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number e.g.- parentheses e.g. (55).) Bridgeport Company Income Statement
Dividends 3,650 Service Revenue 15,500 Salaries and Wages Expense 10,500 Rent Expense 750 Depreciation Expense 650 Interest Expense 70 Interest Payable 70 Totals 59,400 59,400 (a1) Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number e.g.- parentheses e.g. (55).) Bridgeport Company Income Statement
Chapter5: Operating Activities: Purchases And Cash Payments
Section: Chapter Questions
Problem 2.1C
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Trial Balance: Trial balance is a statement in which the closing balance of all ledger accounts are transferred. This statement shows the opening balance + /- debit or credit amount during the period.
This statement also helps management to check the accuracy of accounts. The sum of all debit balances must be equal to the sum of credit balances.
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