Q3. From the following ledger balances prepare a Trial Balance: Common stock $ 72,000 Insurance expense...
Q3. From the following ledger balances prepare a Trial Balance:
- Common stock $ 72,000
- Insurance expense $ 600
- Accounts Payable $ 4,000
- Service Revenue $ 80,000
- Building $ 48,000
- Supplies Expense $ 400
- Cash $ 4,000
- Salary $ 7,000
- Trucks $ 132,000
- Fuel expense $ 3,000
- Dividends $ 5,400
- Utilities expense $ 500
- Accounts receivables $ 8,800
- Note payable $ 4,000
- Supplies $ 300
Homework Answers
| Trial Balance | ||
| Debit | Credit | |
| Cash | $4,000 | |
| Accounts Receivable | $8,800 | |
| Supplies | $300 | |
| Building | $48,000 | |
| Trucks | $132,000 | |
| Accounts Payable | $4,000 | |
| Notes Payable | $4,000 | |
| Common Stock | $72,000 | |
| Retained Earnings | $50,000 | |
| Dividends | $5,400 | |
| Service Revenue | $80,000 | |
| Insurance Expense | $600 | |
| Supplies Expense | $400 | |
| Salaries Expense | $7,000 | |
| Fuel Expense | $3,000 | |
| Utilities Expense | $500 | |
| Totals | $210,000 | $210,000 |
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Q3. From the following ledger balances prepare a Trial
Balance:
Common stock $ 72,000
Insurance expense...
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