Exercise 1-1 Requirement 1 Write the accounting equation from the post-closing trial balance of Leyes Service Grafix.. ASSETS LIABILITIES+ OWNER'S EQUITY Requirement 2 From the post-closing trial balance of Leyes Service Grafix as of December 31, 20X1, prepare Statement of Financial Position. A. Report Form B. Account Form Post-Closing Trial Balance December 31, 20X1 Dr Cr Cash in Benk Accounts Receivable Allowance fod Bad Debts Prepaid Rent Office Equipment Accumulated Depreciation Office Equipment Salaries Payable Account Payable Fred Leyes, Capital TOTAL 100,000 480,000 P. 5,000 10,000 660,000 60,000 30,000 240,000 915,000 P 1,250,000 1,250,000 P.
Exercise 1-1 Requirement 1 Write the accounting equation from the post-closing trial balance of Leyes Service Grafix.. ASSETS LIABILITIES+ OWNER'S EQUITY Requirement 2 From the post-closing trial balance of Leyes Service Grafix as of December 31, 20X1, prepare Statement of Financial Position. A. Report Form B. Account Form Post-Closing Trial Balance December 31, 20X1 Dr Cr Cash in Benk Accounts Receivable Allowance fod Bad Debts Prepaid Rent Office Equipment Accumulated Depreciation Office Equipment Salaries Payable Account Payable Fred Leyes, Capital TOTAL 100,000 480,000 P. 5,000 10,000 660,000 60,000 30,000 240,000 915,000 P 1,250,000 1,250,000 P.
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 11SEB: Provided below is a trial balance for Bills Delivery Service. Use this trial balance for Exercises...
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