Homework Answers
Answer:
| STERLING COMPANY | ||
| Corrected Trial Balance | ||
| 31-May-16 | ||
| Debit ($) | Credit ($) | |
| Cash ($5850+$520- $405) | $5965 | |
| Accounts Receivable ($2570- $210) | $2360 | |
| Prepaid Insurance ($700+ $100) | $800 | |
| Supplies | $520 | |
| Equipment ($8000- $520) | $7480 | |
| Accounts Payable ($4500- $100 + $520- $210) | $4710 | |
| Unearned Service Revenue | $560 | |
| Common Stock ($11700+ $1000) | $12700 | |
| Service Revenue | $6960 | |
| Salaries and Wages Expense ($4200+ $200) | $4400 | |
| Advertising Expense ($1100+ $405) | $1505 | |
| Utilities Expense ($800 + $100) | $900 | |
| Dividends | $1000 | |
| Total | $24930 | $24930 |
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