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The balances for the accounts of the Men in kilts Co., for the year ended March 31, 2020, are shown below. Each account has a
The balances for the accounts of the Men in kilts Co., for the year ended March 31, 2020, are shown below. Each account has a normal balance. Equipment Accounts payable Accounts receivable Cash $ 22,000 18,300 Wages expense $ 12,250 26,400 2,520 ? Maintenance supply Building Supply expense Damien, Capital, beginning Maintenance revenue 5,500 51,625 17,600 5,000* 104,400 Utility expense Damien, Withdrawals Note payable Land 87,239 27,000 2,536 Unearned maintenance fees *) The ending balance of the Capital account is $20,000; the only addition to the account for the year was net income. Required 1. Calculate the correct balances for accounts Cash and Damien, Withdrawals 2. Prepare a trial balance
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