Question

Homework: Chapter 2 Score of E2-23 (book/static) 6. 10.17 of 10 344 PM

Answer 1

Answer:

Trial Balance
May 31,2018
Account title	Balance
	Debit	Credit
Cash	$9,100
Accounts receivable	$3,100
Land	$14,000
Building	$29,000
Equipment	$16,000
Salaries payable		$3,400
Notes payable		$25,000
Common stock		$47,000
Dividends	$2,000
Service revenue		$5,300
Salaries expense	$6,300
Property Tax Expense	$1,000
Advertising Expense	$200
Total	$80,700	$80,700

Explanations:

i.For the following accounts, Balance = Total debits - Total credits

Cash

Accounts receivable

Land

Building

Equipment

Dividends

Salaries expense

Property Tax Expense

Advertising Expense

ii. For the following accounts, Balance = Total credit-Total debits

Salaries payable

Notes payable

Common stock

Service revenue