I need help to prepare a Trial Balance with the information posted below. The Ledger is already done I am not able to balance when the information is inputted for the Trial balance.
1 |
Paws received $30,000 cash and issued common shares to shareholders |
4 |
Purchased supplies, $1,000, and equipment, $2,600 on account |
5 |
Performed checkup services, and received cash, $1,500 |
7 |
Paid cash to acquire land for an office site, $22,000 |
11 |
Performed a surgery on a sick cat, and billed the customer $500 |
16 |
Paid for the equipment, purchased Oct 4 on account |
17 |
Paid the telephone bill, $95 |
18 |
Received partial payment from client on account, $250 |
22 |
Paid the water and electricity bills, $400 |
29 |
Received $2,000 cash for conducting a workshop on “Healthy Cat Living” |
31 |
Paid employee salary, $1,300 |
31 |
Declared and paid dividends of $1,500 |
Answer
--- Working for ending balances for Trial balance
Transactions |
Cash |
Accounts receivables |
Supplies |
Equipment |
Land |
Accounts Payable |
Common Stock |
Service Revenue |
Telephone expenses |
Salaries expenses |
Water & Electricity expenses |
Dividends |
1 |
$ 30,000 |
$ 30,000 |
||||||||||
4 |
$ 1,000 |
$ 2,600 |
$ 3,600 |
|||||||||
5 |
$ 1,500 |
$ 1,500 |
||||||||||
7 |
$ (22,000) |
$ 22,000 |
||||||||||
11 |
$ 500 |
$ 500 |
||||||||||
16 |
$ (1,000) |
$ (1,000) |
||||||||||
17 |
$ (95) |
$ 95 |
||||||||||
18 |
$ 250 |
$ (250) |
||||||||||
22 |
$ (400) |
$ 400 |
||||||||||
29 |
$ 2,000 |
$ 2,000 |
||||||||||
31 |
$ (1,300) |
$ 1,300 |
||||||||||
31 |
$ (1,500) |
$ 1,500 |
||||||||||
Ending balances |
$ 7,455 |
$ 250 |
$ 1,000 |
$ 2,600 |
$ 22,000 |
$ 2,600 |
$ 30,000 |
$ 4,000 |
$ 95 |
$ 1,300 |
$ 400 |
$ 1,500 |
Accounts title |
Debit |
Credit |
Cash |
$ 7,455 |
|
Accounts receivables |
$ 250 |
|
Supplies |
$ 1,000 |
|
Equipment |
$ 2,600 |
|
Land |
$ 22,000 |
|
Accounts Payable |
$ 2,600 |
|
Common Stock |
$ 30,000 |
|
Dividends |
$ 1,500 |
|
Service Revenue |
$ 4,000 |
|
Telephone expenses |
$ 95 |
|
Salaries expenses |
$ 1,300 |
|
Water & Electricity expenses |
$ 400 |
|
Total |
$ 36,600 |
$ 36,600 |
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