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Trial Balance Question: Requirements: Prepare a trial balance using the following account balances: Cash: $20,000 Accounts Receivable: $12,000 Prepaid Insurance: $8,000 Equipment: $40,000 Accumulated Depreciation:

  • Trial Balance Question:
    • Requirements: Prepare a trial balance using the following account balances:
      • Cash: $20,000
      • Accounts Receivable: $12,000
      • Prepaid Insurance: $8,000
      • Equipment: $40,000
      • Accumulated Depreciation: $5,000
      • Accounts Payable: $15,000
      • Common Stock: $30,000
      • Retained Earnings: $20,000
      • Service Revenue: $35,000
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