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Figure 1 I can't get my trial balance to balance. What did i do wrong? Figure 1 above is the data (all normal balances). Figure
Figure 1
I can't get my trial balance to balance. What did i do wrong? Figure 1 above is the data (all normal balances). Figure 2 below is what i got for my trail balance but it does not balance out.
Debit | Credit | |
Cash | $35,000 | |
Accounts Receivable | 6,000 | |
Equipment | 20,000 | |
Accumulated Depreciation - Equipment | $6,000 | |
Supplies Inventory | 2,000 | |
Prepaid Expenses | 3,000 | |
Accounts Payable | 3,000 | |
Wages Payable | 2,000 | |
Unearned Revenue | 5,000 | |
Common Stock | 10,000 | |
Sales Revenue | 169,500 | |
Retained Earnings | 25,000 | |
Depreciation Expense | 4,000 | |
Insurance Expense | 6,000 | |
Interest Expense | 5,000 | |
Supplies Expense | 1,500 | |
Postage & Delivery Expense | 1,000 | |
Rent Expense | 24,000 | |
Travel Expense | 3,000 | |
Wages Expense | 110,000 | |
$185,500 | $214,500 |
figure 2
\begin{tabular}{|l|lr|} \hline \multicolumn{1}{|c|}{ Account } & \multicolumn{2}{c|}{ Balance } \\ \hline Accounts Payable & & 3,000 \\ \hline Accounts Receivable & & 6,000 \\ \hline Cash & & 6,000 \\ \hline Common Stock & & 10,000 \\ \hline Depreciation Expense & & 4,000 \\ \hline Equipment & & 20,000 \\ \hline Msurance Expense & & 6,000 \\ \hline Interest Expense & & 5,000 \\ \hline Supplies Inventory & & 2,000 \\ \hline Supplies Expense & & 1,500 \\ \hline Postage \& Delivery Expense & & 1,000 \\ \hline Prepaid Expenses & & 3,000 \\ \hline Rent Expense & & 24,000 \\ \hline Setained Earnings & & 25,000 \\ \hline Sales Revenue & & 169,500 \\ \hline Travel Expense & & 3,000 \\ \hline Unearned Revenue & & 5,000 \\ \hline Wages Expense & & 110,000 \\ \hline Wlages Payable & & 2,000 \\ \hline \end{tabular}Step by Step Solution
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