Question

Q.3 At the end of January 2020, prepare Income statement and Balance sheet from the following items of
Trial Balance. (15). Also give closing entries from the following data. (05).
Rs. 5794
Accounts Payable..
780
Advertisement Expenses....
245.
Bad debts Expenses...
i. 88800
Building.
37305
Capital..
4560
Cash...
1200
Drawing...
29400
Equipment..
I120
General Expenses..
13260
Income from serVices.
.. 11500
Land....
... 88000
Notes Payable...
2284
Prepaid Insurance.
880
Repair Expenses..
2050
Salaries Expenses.
1540
Supplies.....
​

Answer 1

Answer:

A Bank's Balance Sheet. A balance sheet is an accounting tool that lists assets and liabilities. ... The net worth is the asset value minus how much is owed (the liability). A bank's balance sheet operates in much the same way. A bank's net worth is also referred to as bank capital.

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