Question
Preparing an Unadjusted Trial Balance Using the following T-Accounts, prepare an unadjusted trial balance for Perry Inc. Assume that the trial balance is dated January
Preparing an Unadjusted Trial Balance
Using the following T-Accounts, prepare an unadjusted trial balance for Perry Inc. Assume that the trial balance is dated January 31, 2020. Ignore account numbers.
| Cash | |||
|---|---|---|---|
| 10,000 | 5,000 | ||
| 2,000 | |||
| Accounts Receivable | |||
|---|---|---|---|
| 2,500 | 2,000 | ||
| 1,500 | |||
| Equipment | |||
|---|---|---|---|
| 2,750 | |||
| Accounts Payable | |||
|---|---|---|---|
| 5,000 | 7,500 | ||
| 1,125 | |||
| Note Payable | |||
|---|---|---|---|
| 2,750 | |||
| Common Stock | |||
|---|---|---|---|
| 5,000 | |||
| Service Revenue | |||
|---|---|---|---|
| 1,500 | |||
| Legal Expense | |||
|---|---|---|---|
| 1,125 | |||
Note: Do not use negative signs with your answers.
| Perry Inc. | ||
|---|---|---|
| Unadjusted Trial Balance | ||
| January 31, 2020 | ||
| Description | Debit | Credit |
| Cash |
|
|
| Accounts Receivable |
|
|
| Equipment |
|
|
| Accounts Payable |
|
|
| Note Payable |
|
|
| Common Stock |
|
|
| Service Revenue |
|
|
| Legal Expense |
|
|
| Totals |
|
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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
Fundamental Accounting Principles Volume 2
Authors: Kermit Larson, Heidi Dieckmann
15th Canadian Edition
1259087360, 9781259087363
