Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

how to create a trial balance? 0 1 2 3 4 5 6 7 7 8 b Date 9 0 1 2 d 3 4

how to create a trial balance?

0 1 2 3 4 5 6 7 7 8 b Date 9 0 1 2 d 3 4 e 5 6 7 Accounts 1-Jan Cash Common Stock(issued common stock) 1-Jan Cash Notes Payable(borrowed money from the bank by signing a promissory note) 1-Jan Prepaid Insurance Cash(paid for 1 year of insurance) 2-Jan Rent Expense Cash(paid for rent) 4-Jan Equipment Cash(landscaping equipment is purchased for cash) 7-Jan Supplies Accounts Payable(supplies are purchased on account) 10-Jan Advertisement Expense 15-Jan Cash 8 9 0 1 2 3 4 5 Adjusting Entries 6 a paid for advertisement) Service Revenue (services are performed for cash) 20-Jan Accounts receivable Journal 25-Jan Cash Service Revenue(services are performed on account) Unearned Service Revenue(a customer pays in advance for future services) 30-Jan Fuel Expense Cash(paid for gasoline expense) Supplies Expense Supplies(supplies used during the month) Depreciation Expense Accumulated Depreciation(depreciation expenses for the month) Salaries Salaries Payable(accrued salaries for the month) Interest Expense Interest Payable(interest on loan accrued for 1 month) Insurance Expense Prepaid Insurance(insurance expense for the month january has been realized) 1-Feb Rent Expense Cash(paid for rent) Debit 754,081 158,357 22,622 18,852 603,265 33,029 2,828 62,589 31,671 11,311 4,242 13,212 10,054 37,704 1,320 1,885 18,852 Credit 754,081 158,357 22,622 18,852 603,265 33,029 2,828 62,589 31,671 11,311 4,242 13,212 10,054 37,704 1,320 1,885 18,852

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To prepare a trial balance we need the closing balances ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Applied Regression Analysis And Other Multivariable Methods

Authors: David G. Kleinbaum, Lawrence L. Kupper, Azhar Nizam, Eli S. Rosenberg

5th Edition

1285051084, 978-1285963754, 128596375X, 978-1285051086

More Books

Students also viewed these Accounting questions

Question

How to create a shield for gamma-ray?

Answered: 1 week ago