The following is the list of all the accounts and their balances for Image Maker Saloon as at 31 December 2022. Account Titles Bank $ 24,000 Prepaid rent 2,400 Supplies 2,580 Supplies expense 14,710 Equipment 9,000 Depreciation expense 1,000 Accumulated depreciation - Equipment 2,000 Accounts receivable 9,000 Capital 30,000 Service revenue 91,390 Unearned service revenue 1,200 Utilities expense 6,220 Utility payable 420 Salaries expense 41,700 Rent expense 14,400 If all accounts have normal balances, present a trial balance for this business as at 31 December 2022. Compute the total assets from the trial balance prepared in (a). Compute the total liabilities from the trial balance prepared in (a).

The following is the list of all the accounts and their balances for Image Maker Saloon as at 31 December 2022. Account Titles Bank $ 24,000 Prepaid rent 2,400 Supplies 2,580 Supplies expense 14,710 Equipment 9,000 Depreciation expense 1,000 Accumulated depreciation - Equipment 2,000 Accounts receivable 9,000 Capital 30,000 Service revenue 91,390 Unearned service revenue 1,200 Utilities expense 6,220 Utility payable 420 Salaries expense 41,700 Rent expense 14,400 If all accounts have normal balances, present a trial balance for this business as at 31 December 2022. Compute the total assets from the trial balance prepared in (a). Compute the total liabilities from the trial balance prepared in (a).

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 5PA: The following selected accounts and their current balances appear in the ledger of Clairemont Co....

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