the general ledger of Chipcura Repairs

The following account balances are taken from the general ledger of Chipcura Repairs Corporation at November 30, 2017.

Accounts payable$5,000Rent expense$700
Accounts receivable6,000Repair revenue8,350
Advertizing expense500Salaries expense3,000
Bank loan4,500Salaries payable1,000
Cash2,000Unused supplies500
Share capital8,000Supplies expense250
Commissions expense1,500Truck8,000
Equipment3,500Truck operating expense900


1. Prepare a trial balance at November 30, 2017. Ensure total debits equal total credits. General ledger account numbers (folio) are not necessary.

2. Prepare an interim income statement and statement of changes in equity for the month ended November 30, 2017.

3. Prepare an interim statement of financial position at November 30, 2017.

Leave a Reply

Your email address will not be published. Required fields are marked *