Trial balance preparation. Brighton, a sole proprietorship began operation on March 1 of the current year. The following account balances were extracted from the general ledger on March31; all accounts have normal balances.
Bob Brighton, Owners Equity
a. Determine the cost of the company’s land by preparing a trial balance. (Remember, the trial balance debits must equal the credits, see Exhibit 2.9)
b. Determine the firm’s net income for the period ending March 31.