Question

Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which included his initial investment of $19,000 cash. After those seven transactions, the ledger included the following accounts with normal balances. Part 1 of 2 2.5 points Cash Office supplies Prepaid insurance Office equipment Accounts payable Common Stock Dividends Engineering fees earned Rent expense 41,131 890 14,500 13,100 13,100 19,000 13,499 41,000 9,980 eBook Print Required: 1. Prepare a trial balance for this business as of the end of May. MIN ENGINEERING Trial Balance May 31 Debit Credit Lotals 0

Answer 1

Trial Balance:- This is a list of all ledger accounts which are showed in a Company's General Ledger. Trial Balance is shown Accounts with Debit and Credit balance.

Preparing Trial Balance Min Engineering as of the end of May:-

MIN ENGINEERING

Trial Balance

May 31

Accounts Name	Debit	Credit
Cash	$41,131
Office Supplies	890
Prepaid Insurance	4,500
Office Equipment	13,100
Accounts Payable		$13,100
Common Stock		19,000
Dividends	3,499
Engineering Fees Earned		41,000
Rent Expense	9,980
Totals	$73,100	$73,100