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You Have Just Accepted Your First Job Out of College

Question 190

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You have just accepted your first job out of college, which requires you to evaluate loan requests at Eastwood National Bank. The first loan request you receive is from Richard Enterprises, a small proprietorship. Richard Tracy, the owner, is requesting $105,000 and brings you the following trial balance
(or statement of accounts) for his first year of operations ended December 31.What three accounts do you think should be relabeled for greater clarity? You have just accepted your first job out of college, which requires you to evaluate loan requests at Eastwood National Bank. The first loan request you receive is from Richard Enterprises, a small proprietorship. Richard Tracy, the owner, is requesting $105,000 and brings you the following trial balance (or statement of accounts) for his first year of operations ended December 31.What three accounts do you think should be relabeled for greater clarity?

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