The following account balances are taken from the records of Fox Creek Service Limited at October 31, 2015 after its first year of operation:
|
Accounts Payable |
$9,000 |
Insurance Expense |
$500 |
|
Accounts Receivable |
6,000 |
Repair Revenue |
19,000 |
|
Advertizing Expense |
2,200 |
Supplies Expense |
800 |
|
Bank loan |
5,000 |
Telephone Expense |
250 |
|
Cash |
1,000 |
Truck |
9,000 |
|
Share Capital |
2,000 |
Truck Operating Expense |
1,250 |
|
Commissions Expense |
4,500 |
Wages Expense |
4,000 |
|
Equipment |
7,000 |
Wages Payable |
1,500 |
Required:
- Prepare a trial balance at October 31, 2015. General ledger account numbers are not necessary.
- Prepare an income statement and statement of changes in equity for the year ended October 31, 2015.
- Prepare a balance sheet at October 31, 2015.
- 1500 reads
