Homework Answers
|
Peete Company Trail Balance June 30, 2022 |
||
| Account Title | Debit | Credit |
| Cash | $5,400 | |
| Equipment | $13,000 | |
| Accounts Receivable | $3,000 | |
| Accounts Payable | $1,000 | |
| Common stock | $18,000 | |
| Service revenue | $8,600 | |
| Dividends | $1,200 | |
| Salaries and Wages expense | $4,000 | |
| Rent expense | $1,000 | |
| Totals | $27,600 | $27,600 |
Explanation : 1. Assets, Expenses and Dividends shows debit balances.
2. Liabilities,Revenue and Equity shows credit balances.
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