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Question 2 T-Accounts and Trial Balance Use the following information to complete the TRIAL BALANCE ONLY in the correct.order. These are beginning balances and
Question 2 T-Accounts and Trial Balance Use the following information to complete the TRIAL BALANCE ONLY in the correct.order. These are beginning balances and they are all normal balances Cash 25,000 Accounts Receivable 6000 Inventory 15000 Accounts Payable 12000 Wages Payable 10000 Long Term Debt 12000 Common Stock 12000 Happy is an accounting firm with Spark as a customer. a. b. C Happy Accounting completes $15,000 in services to Spark Company on account to be paid next month. Spark Company gives deposit of 10% on $30,000 of software to be delivered next month Happy Accounting buys $10,000 of equipment with a long term loan. Happy Accounting employees work 1000 hours at $10 per hour but are paid $5000 in cash, the rest will be paid next month. Happy Accounting pays insurance for next year of $6000 Happy Accounting purchases packaged software (which it sells to customers) of $5000 on account to be paid next month. Sample answer table: Account Debit Credit
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