5. Below is the complete ist of accounts of Sooner Company and the related balance at...

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Answer 1

Answer #1

Ans.	SOONER COMPANY
	Trial Balance
	30-Apr
	Accounts	Debit	Credit
	Cash	2000
	Prepaid Rent	5500
	Accounts receivables	4200
	Land	41000
	Accounts payable		2400
	Deferred revenue		1350
	Common stock		21000
	Retained earnings		18250
	Service revenue		23500
	Salaries expenses	6300
	Supplies expenses	7500
	Totals	66500	66500

	*Deferred revenue is also known as unearned revenue. It is an income received in advance
	so it is a current liability.

Answer 2

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