This topic contains a solution. Click here to go to the answer

Author Question: Cost of merchandise sold is often the largest expense on a merchandising company income statement. ... (Read 78 times)

D2AR0N

  • Hero Member
  • *****
  • Posts: 561
Cost of merchandise sold is often the largest expense on a merchandising company income statement.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

Using the information in the T-accounts below, prepare an unadjusted trial balance for T-Ball, Inc.:
 
  Cash Notes Payable Common Stock
  (a) 50,000
  (b) 30,000
 
  (e) 60,000
 
  40,000 (c)
 
  20,000 (f) 30,000(b) 50,000 (a)
 
   Accounts receivable
  (d) 10,000
  60,000(e)
 
   Computer
  (c)40,000
 
   Service revenue
   100,000(d)
 
   Salary Expense
  (f) 20,000
 
   T-Ball, Inc.
   Unadjusted Trial Balance
   December 31, 2011
   Debit Credit
 
  Totals



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

prumorgan

  • Sr. Member
  • ****
  • Posts: 326
Answer to Question 1

True

Answer to Question 2

T-Ball, Inc.
Unadjusted Trial Balance
December 31, 2011
Debit Credit
Cash  80,000
Accounts receivable 40,000
Computer 40,000
Notes Payable  30,000
Common stock 50,000
Service revenue 100,000
Salary expense 20,000
Totals  180,000  180,000




D2AR0N

  • Member
  • Posts: 561
Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it


olderstudent

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

For a complete list of videos, visit our video library