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Question 9 The following is a list of accounts, in alphabetical order, for Sheridan, Inc. at July 31, 2018: Accounts payable Accounts receivable Accumulated depreciation-equipment Bank loan payable, due 2020 Cash Common shares Depreciation expense Dividends declared Equipment Held for trading investments $9,800 14,300 21,300 38,300 Prepaid insurancee 13,500 Rent expense 38,000 $3,000 1,800 3,700 100 8,700 10,200 20,300 24,700 800 77,900 Income tax expense Insurance expense Interest expense Repairs and maintenance expense 9,500 Retained earnings 800 Salaries expense 98,100 Salaries payable 18,000 Service revenue Additional information: All accounts have a normal balance. During the year, the company issued common shares for $11,000▼ (a) Prepare a trial balance SHERIDAN INC Trial Balance Debit Credit

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SHERIDIAN INC

TRIAL BALANCE

Particular Debit($) Credit($)
Accounts payable 9800
Accounts receivable 14300
Accumulated depreciation-equipment 21300
Bank loan payable,due 2020 38300
Cash 13500
Common shares 38000
Depreciation expense 9500
Dividends declared 800
Equipment 98100
Held for trading investments 18000
Income tax expense 3000
Insurance expense 1800
Interest expense 3700
Prepaid insurance 100
Rent expense 8700
Repairs and maintenance expense 10200
Retained eamings 20300
Salaries expense 24700
Salaries payable 800
Service revenue 77900
Issued Share 11000
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