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Use the data to set up a Trial Balance and answer the 5 questions. Cash $25,000 Accounts receivable 30,000 1. Total credits $ Supplies
Use the data to set up a Trial Balance and answer the 5 questions. Cash $25,000 Accounts receivable 30,000 1. Total credits $ Supplies 1,000 2. Building/Equipment $ 3. Net income Prepaid rent 2,000 Building & Equipment ? 4. Ending retained earnings $ 5. Total Assets $ Accounts payable 15,000 Salaries payable 10,000 Interest payable 2,000 Deferred revenue 12,000 Notes payable 100,000 Common stock 500,000 Retained earnings 300,000 Dividends 40,000 Service revenue 375,000 Salaries expense 200,000 Rent expense 24,000 Interest expense 5,000 I Supplies expense 3,000 Utilities expense 35,000 Advertising expense 60,000
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