Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Following is a complete list of accounts and account balances as of the end of May for Goalies Ball, Ltd. which sells soccer merchandise to
- Following is a complete list of accounts and account balances as of the end of May for Goalies Ball, Ltd. which sells soccer merchandise to customers. Assume all accounts have their normal debit or credit balance.
- Common Stock: $5,000
- Accounts Payable: $3,440
- Cash: $8,920
- Sales Revenue: $16,820
- Dividends: $260
- A/R: $2,745
- Advertising Expense: $2,170
- Notes Payable: $12,900
- Retained Earnings: $6,010
- Cost of Goods Sold (COGS): $7,940
- Equipment: $11,855
- Rent Expense: $650
- Wages Expense: $3,750
- Inventory: $5,880
Prepare an unadjusted trial balance for Goalies Ball as of the end of May with the list of accounts in the following order: assets, liabilities, common stock, retained earnings, revenues, expenses, and dividends.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started