Solution-Write about trial balance and its purpose

Write about trial balance and its purpose

Assignment Help Accounting Basics

Reference no: EM131094294

Showing the impact of transaction:

a.List of accounts impacted by the transaction Asset (cash) Liability (loan)

b.Increase or decrease in account Asset (cash) decrease Liability (Loan) decrease

c.Increase or decrease in terms of Dollar amount

Cash, $30,000 (decrease) Loan, $30,000 (decrease)

d.Impact on total assets, liabilities and owner’s equity Assets, $30,000 (decrease) Liabilities, $30,000 (decrease)

Write about Trial balance and its purpose
Journalizing the transactions of KD dispensary
Opening the given accounts using T-account format
Loans and receivables does not include equity securities purchased by the company, they are included in owners equity.

Reference no: EM131094294

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Write about trial balance and its purpose : Write about Trial balance and its purpose Journalizing the transactions of KD dispensary

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Write about trial balance and its purpose

Reference no: EM131094294

Reference no: EM131094294

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