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Requirements: Prepare a trial balance using the following account balances: Cash: $40,000 Accounts Receivable: $25,000 Prepaid Rent: $4,000 Equipment: $90,000 Accumulated Depreciation: $15,000 Accounts Payable:

  • Requirements: Prepare a trial balance using the following account balances:
    • Cash: $40,000
    • Accounts Receivable: $25,000
    • Prepaid Rent: $4,000
    • Equipment: $90,000
    • Accumulated Depreciation: $15,000
    • Accounts Payable: $20,000
    • Common Stock: $50,000
    • Retained Earnings: $40,000
    • Service Revenue: $60,000

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