Homework Answers
Preparing Trial Balance:-
DUCKS COMPANY
Trial Balance
September 30
| Accounts Title | Debit | Credit |
|---|---|---|
| Cash | $20,000 | |
| Accounts Receivable | 13,000 | |
| Supplies | 6,000 | |
| Prepaid Insurance | 4,000 | |
| Equipment | 23,000 | |
| Accounts Payable | $6,000 | |
| Salaries Payable | 3,000 | |
| Utilities Payable | 1,000 | |
| Deferred Revenue | 8,000 | |
| Common Stock | 24,000 | |
| Retained Earnings | 12,000 | |
| Dividends | 3,000 | |
| Service Revenue | 46,000 | |
| Salaries Expense | 8,000 | |
| Insurance Expense | 7,000 | |
| Advertising Expense | 1,000 | |
| Supplies Expense | 9,000 | |
| Entertainment Expense | 5,000 | |
| Utilities Expense | 1,000 | |
| Totals | $100,000 | $100,000 |
Trial Balance is the records of all ledger accounts which is a company have. The Total of Debit side of Trial Balance is always equals to the Total of Credit side of Trial Balance, if there is a difference between Total Debit and Total Credit means some Amount is missing. So in above Trial Balance Difference between Total Debit and Total Credit is missing Amount of Service Revenue.
**Difference (Service Revenue)=(Total Debit - Total Credit)
=($100,000-$54,000)
=$46,000
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below.
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