B-02.06 Problem

B-02.06 Problem - B-02.06 The CEO of newly formed Targus...

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B-02.06 The CEO of newly formed Targus Company printed a copy of the company's general ledger prior to a recent plane flight. She settled into seat 7A next to where you were sitting. Once airborne, she removed the printed "GL" from her brief case and began examining the report. Unfortunately, she realized that her printer had run out of ink on the very last page. She is frustrated because she is not able to determine the company's exact profitability to date, and is on her way to a shareholder meeting where she is to issue a report on the company's progress. She happened to note that you were studying an accounting book, and asked if you might help her. Prepare a trial balance from the general ledger, determine the missing amount for salaries expense, and determine the company's profit for its first month. CASH Date Description Debit Credit Balance 02-Jan-08 Balance forward - - - 03-Jan-08 Journal Page 1 250,000 - 250,000 10-Jan-08 Journal Page 1 - 75,000 175,000 14-Jan-08 Journal Page 1
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B-02.06 Problem - B-02.06 The CEO of newly formed Targus...

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