Slide31 - Deriving Financial Statements from the Trial...

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Unformatted text preview: Deriving Financial Statements from the Trial Balance Debits Credits Cash $ 336,700 Accounts receivable 160,300 Merchandise Inventory 59,200 Prepaid Rent 4,000 Store equ'pment 14,000 Balance Accum ulated depreciation, Sheet store equipment $ 100 Note payable 100,000 Accounts payable 16,200 Paid-in capitd 400,000 Retained earnings 0 Sales revenues 160,000 Cost of goods sold 100,000 Income Rent expense 2,000 Statement Depreciation expense 100 Total § 676,300 676 300...
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