| ACCT504 – Case 1- Part A | |||||||||
| Gordon Contruction, Inc. |
|||||||||
| Trial Balance |
|||||||||
| June 30, 2014 |
|||||||||
| Account titles | Debit | Credit | |||||||
| Cash | 17,870 | ||||||||
| Accounts receivable | 1,900 | ||||||||
| Supplies | 3,000 | ||||||||
| Equipment | 5,200 | ||||||||
| Land | 37,000 | ||||||||
| Accounts payable | 5,400 | ||||||||
| Common Stock | 55,000 | ||||||||
| Dividends | 3,000 | ||||||||
| Service revenue | 12,500 | ||||||||
| Salary expense | 4,300 | ||||||||
| Utilities expense | 630 | ||||||||
| Total | 72,900 | 72,900 | |||||||
| Please answer the 3 questions for Requirement 4 below. |
|||||||||
| Q1 | How much is the total resources? |
||||||||
| Q2 | How much does the business owe? |
||||||||
| Q3 | Was June profitable and by how much? |
||||||||
