Problem

Preparing a trial balance RequiredOn December 31, 2011, Grey Company had the following nor...

Preparing a trial balance Required

On December 31, 2011, Grey Company had the following normal account balances in its general ledger. Use this information to prepare a trial balance.

Land

$ 80,000

Unearned Revenue

52,000

Dividends

20,000

Prepaid Rent

19,200

Cash

58,000

Salaries Expense

50,000

Accounts Payable

12,000

Common Stock

80,000

Operating Expense

50,000

Office Supplies

10,000

Advertising Expense

4,000

Retained Earnings, 1/1/2011

18,000

Service Revenue

184,000

Accounts Receivable

54,800

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