-Complete the total assets for the business -Compute the total liabilities for t

Question

-Complete the total assets for the business

-Compute the total liabilities for the business

-Select the labels and compute the net income or net loss during October

Data Table Bergeron, Inc. Trial Balance October 31, 2016 Balance Account Title Debit Credit 6,500 19,000 5,500 53,000 29,000 Accounts receivable Supplies Equipment Accounts payable Note payable Common stock Retained earnings Service revenue Salary expense Rent expense Utilities expense Total S 45,000 23,000 8,000 5,000 74,100 30,000 11,500 S 155,100 S 155,100

Explanation / Answer

Particulars Amt Cash 6500 Account Receivable 19000 Supplies 5500 Land 53000 Equipment 29000 Total Assets 113000 Particulars Amt Account Payable 45000 Note Payable 23000 Total Liabilities 68000 Particulars Amt Service Revenue 74100 Less: Rent Expense 11500 Less: Salary Expense 30000 Less Utilities Expense 600 Net Income 32000

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