Question

Required information [The following information applies to the questions displayed below] Alison and Chuck Renny began operations of their furnitute repair shop (Lazy Sofa Furniture Inc.) on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows (amounts are rounded to thousands of dollars to simplify)

3. Prepare an unadjusted trial balance

Required information [The following information applies to the questions displayed below) Alison and Chuck Renny began operations of their furniture repair shop (Lazy Sofa Furniture, Inc.) on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows (amounts are rounded to thousands of dollars to simplify). Debit Credit Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (long-term) Salaries and Wages Payable Interest Payable Income Tax Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Supplies Expense Depreciation Expense Salaries and Wages Expense Amortization Expense Interest Expense Income Tax Expense Total

Answer 1

Requirement 3:

LAZY SOFA FURNITURE, INC.
Unadjusted Trial Balance
For the year ended Dec 31,2018
Account titles	Debit	Credit
Cash	$38
Accounts receivable	$6
Supplies	$12
Equipment	$30
Accumulated depreciation		$0
Software	$9
Accumulated depreciation		$3
Accounts payable		$7
Notes payable (short-term)		$19
Salaries and wages payable		$0
Interest payable		$0
Income tax payable		$0
Deferred revenue		$3
Common stock		$16
Retained earnings		$5
Service revenue		$63
Supplies expense	$0
Salaries and wages expense	$21
Depreciation expense	$0
Amortization expense	$0
Interest expense	$0
Income tax expense	$0
Total	$116	$116

Calculations:

Account titles	Debit	Credit
Cash	4+19-20+5-3+54-21+8-11+3
Accounts receivable	5+9-8
Supplies	2+10
Equipment	7+20+3
Accumulated depreciation		$0
Software	$9
Accumulated depreciation		$3
Accounts payable		8+10-11
Notes payable (short-term)		$19
Salaries and wages payable		$0
Interest payable		$0
Income tax payable		$0
Deferred revenue		$3
Common stock		11+5
Retained earnings		$5
Service revenue		$63
Supplies expense	$0
Salaries and wages expense	$21
Depreciation expense	$0
Amortization expense	$0
Interest expense	$0
Income tax expense	$0