MGT120H5 Chapter 2: Chapter 2
12
MGT120H5 Full Course Notes
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After all these transactions, the store"s balance sheet appears as follows: 10,000 service revenue (1,400) salary expense (1,000) rent expense (300) utilities expense (250) supplies expense. 2: ,050, ,000, ,000 (,000 + ,000, ,050 (,050 ,000, or ,000 + ,050, ,050 (revenue, ,000 minus total expenses of ,950, equals net income, ,050. ) Oct. 1 25,000 oct. 4 20,000 oct. 17 1,500 oct. 23 1,000. The business performed well during may. The correct balance of accounts receivable is ,000 (,200 ,200). After this correction, total debits will be. Q2 48 c. d. c. a. d. b. c. a. b. d. d. c. a. b. a. d. c. b. a. b. This trial balance lists the accounts of amusement. The trial balance is an internal document used by accountants. It is not the same as a balance sheet or an income statement. The balance sheet and the income statement are financial statements used by managers, creditors, and investors for decision making.
