Assume you work in the accounting department at Marshall, Inc. Your boss has asked you to prepare a trial balance as of November 30, 2003, using the following account balances from the company s ledger. Prepare the trial balance and insert the missing amount for Cost of Goods Sold.
|
Accounts Payable |
55,000 |
Notes Payable |
250,000 |
|
Accounts Receivable |
25,000 |
Notes Receivable . |
20,000 |
|
Advertising Expense |
5,000 |
Other Expenses |
1,000 |
|
Buildings |
150,000 |
Property Tax Expense . |
1,500 |
|
Capital Stock |
173,000 |
Rent Expense . |
$7,500 |
|
Cash |
35,000 |
Retained Earnings |
40,000 |
|
Cost of Goods Sold. |
?0 0 |
Salaries Expense . |
155,000 |
|
Equipment |
55,000 |
Salaries Payable |
2,000 |
|
Inventory |
200,000 |
Sales Revenue |
375,000 |
|
Land |
125,000 |
Short Term Investments |
15,000 |
|
Mortgage Payable |
95,000 |
Utilities Expense |
7,000 |