Question

2 MIX Inc. is a service business incorporated on January, 2018 to provide personal training for athletes aspiring to play college sports. The following is a simplified list of accounts and amounts reported in its accounting records at the beginning of its second quarter of operations on April 1, 2018(the amounts are in thousands of dollars). The accounts have normal debit or credit balances. Accounts Payable $ 600 Notes Payable (long-term) $ 200 Accounts Receivable 300 Notes Payable (short-term) 500 Accumulated Depreciation 900 Prepaid Rent 100 Cash 300 Rent Expense 400 Common Stock 200 Retained Earnings 1,500 Deferred Revenue 200 Salaries and Wages Expense 2,200 Depreciation Expense 300 Service Revenue 6,200 Equipment 3,200 Supplies 500 Income Tax Expense 300 Supplies Expense 200 Interest Revenue 100 Travel Expense 2,600 After the first quarter, MIX had the following transactions: a) Issued additional shares of common stock for $50 on April 15. b) Purchased equipment for $250 cash on May 1 c) Received $400 cash for future services on May 25. d) Borrowed $220 cash on July 1, 2018, signing a six-month note payable. e) Paid two-year insurance premium on equipment in the amount of $600 on July 1, 2018, and debited in full to Prepaid Insurance on that date. Coverage began on July 1. f) Purchased software on July 4, $30 cash. g) Purchased supplies on July 5 on account for future use, $7. h) Recorded revenues on December 6 of $550, including $80 on credit and $470 received in cash. i) Recognized salaries and wages expense on December 7 of $30; paid in cash. j) Collected accounts receivable on December 8, $90. k) Paid accounts payable on December 9, $100. Data for adjusting journal entries on December 31: 1) Amortization for 2018, $5. m) A physical count of supplies on December 31 showed Supplies costing $300 were still on hand. n) Depreciation for 2018, $40. 0) Accrued interest of $5 on notes payable. p) Salaries and wages incurred but not yet paid or recorded, $30. 9) Service provided but to be collected in January 2019, $45 r) Income tax expense for 2018 was $4 and will be paid in 2019. s) Six months of insurance on equipment has been used.

i just want the trial balance

Answer 1

Trial Balance:

MIX Inc. Company
Unadjusted Trial Balance
December 31,2018
(The amounts are in thousands of dollars)
Account Title	Debit	Credit
Cash	520
Accounts receivable	290
Prepaid rent	100
Prepaid insurance	600
Supplies	507
Software	30
Equipment	3,450
Accumulated depreciation		900
Accounts payable		507
Deferred revenue		600
Notes payable (short-term)		720
Notes payable (long-term)		200
Common stock		250
Retained earnings		1,500
Service revenue		6,750
Interest revenue		100
Salaries and wages expense	2,230
Rent expense	400
Supplies expense	200
Travel expense	2,600
Depreciation expense	300
Income tax expense	300
Total	11,527	11,527

MIX Inc. Company
Adjusted Trial Balance
December 31,2018
(The amounts are in thousands of dollars)
Account Title	Debit	Credit
Cash	520
Accounts receivable	335
Prepaid rent	100
Prepaid insurance	450
Supplies	300
Software (30-5 amortization)	25
Equipment	3,450
Accumulated depreciation		940
Accounts payable		507
Interest payable		5
Salaries and wages payable		30
Income tax payable		4
Deferred revenue		600
Notes payable (short-term)		720
Notes payable (long-term)		200
Common stock		250
Retained earnings		1,500
Service revenue		6,795
Interest revenue		100
Salaries and wages expense	2,260
Rent expense	400
Supplies expense	407
Travel expense	2,600
Depreciation expense	340
Income tax expense	304
Amortization Expense	5
Interest expense	5
Insurance expense (600 x 6/24)	150
Total	11,651	11,651