Question
An inexperienced bookkeeper prepared the following trial balance. LILYCOMPANY Trial Balance December 31, 2020 Debit Credit Cash$13,500 Prepaid Insurance$3,200 Accounts Payable5,400 Unearned Service Revenue4,600 Owner's
An inexperienced bookkeeper prepared the following trial balance.
LILYCOMPANY
Trial Balance
December 31, 2020
Debit
Credit
Cash$13,500
Prepaid Insurance$3,200
Accounts Payable5,400
Unearned Service Revenue4,600
Owner's Capital11,700
Owner's Drawings6,900
Service Revenue28,300
Salaries and Wages Expense21,300
Rent Expense5,100
$39,400
$60,600
make a correct trial balance, assuming all account balances are normal.
LILYCOMPANY
Trial Balance
December 31, 2020
For the Year Ended December 31, 2020
For the Quarter Ended December 31, 2020
Debit
Credit
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Practicing Financial Planning
Authors: Sid Mittra, Anandi P Sahu, Brian Fischer
12th Edition
9386042851, 9789386042859
