Question

The following trial balance was taken from the records of Fairport Manufacturing Company at the beginning of Year 3. Cash RawAccounts Payable Beg. Bal. Cash 20,000 36,000 Beg. Bal. 10,500 12,000 1. 10,500 2. 18,000 4. 1,800 6. 9,300 7. End. Bal. o 0

Beg. Bal. L Beg. Bal. Work in Process 2,400 10,800 19,950 11,970 Retained Earnings 20,600 36,000 (cl) 24,000 9. End. Bal. 0 5

Property, Plant, and Equipment 15,000 Beg. Bal. Selling and Administrative Expenses 1,800 1,800 (c) End. Bal. 15,000 End. Bal

Someone please help, what is wrong/whats missing???

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Answer #1

The answers look fine, please ensure the closing balance is written below the column where we have it as a balancing figure. Example:

Cash
Beg. Bal 20000 10500 2
10 36000 18000 4
1800 6
9300 7
End. Bal 16400
56000 56000

Please follow the same for all the accounts. Hope this helps.

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