Question

Prepare a trial balance for the Metlock, Inc. at June 30, 2019. All account balances are normal.

Accounts Payable $8,700, Cash $6,400, Common Stock $21,200, Dividends $2,500, Equipment $16,500, Service Revenue $7,700, Accounts Receivable $4,700, Salaries and Wages Expense $4,800, and Rent Expense $2,700.

Answer 1

Trial balance
at June 30 2019
Accounts title	Debit	Credit
Cash	$6,400
Accounts receivables	$4,700
Equipment	$16,500
Accounts Payable		$8,700
Common Stock		$21,200
Dividends	$2,500
Service Revenue		$7,700
Salaries & Wages expenses	$4,800
Rent Expense	$2,700
Total	$37,600	$37,600

--Assets, expenses and contra equity accounts (like dividend) have DEBIT balance
--Liabilities, Revenue and Equity accounts have CREDIT normal balance.