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 84 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
Gracias!


milbourne11

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

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.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

For a complete list of videos, visit our video library