(Learning Objective 5: Construct a trial balance) Assume that Harbor Marine Company reported the following summarized data at December 31, 2018. Accounts appear in noparticular order; dollar amounts are in millions.Other liabilities ..................... $ 220 Cash......................................Expenses ............................... 26Stockholders’ equity.............. 5Revenues............................... $37Other assets........................... 4Accounts payable .................. 6Prepare the trial balance of Harbor Marine Company at December 31, 2018. List the accountsin their proper order. How much was the company’s net income or net loss?
(Learning Objective 5: Construct a trial balance) Assume that Harbor Marine Company reported the following summarized data at December 31, 2018. Accounts appear in noparticular order; dollar amounts are in millions.Other liabilities ..................... $ 220 Cash......................................Expenses ............................... 26Stockholders’ equity.............. 5Revenues............................... $37Other assets........................... 4Accounts payable .................. 6Prepare the trial balance of Harbor Marine Company at December 31, 2018. List the accountsin their proper order. How much was the company’s net income or net loss?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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(Learning Objective 5: Construct a
particular order; dollar amounts are in millions.
Other liabilities ..................... $ 2
20 Cash......................................
Expenses ............................... 26
Stockholders’ equity.............. 5
Revenues............................... $37
Other assets........................... 4
Accounts payable .................. 6
Prepare the trial balance of Harbor Marine Company at December 31, 2018. List the accounts
in their proper order. How much was the company’s net income or net loss?
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