An inexperienced bookkeeper prepared the following trial balance. She fi nished with a huge sigh of relief
Question:
An inexperienced bookkeeper prepared the following trial balance. She fi nished with a huge sigh of relief because she was able to balance the trial balance. (a) Is the trial balance correct? (b) If you answered "no" in (a), prepare a correct trial balance, assuming all accounts have a normal debit or credit balance.
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BOURQUE LIMITED Trial Balance December 31, 2015 Debil Credit Cash Accounts receivable Supplies Accounts payable Unearned revenue Common shares Retained earnings Dividends Service revenue Salaries expense Office expense Supplies expense Rent expense Income tax expense $10,000 6,500 3,500 1,500 2,200 5,000 13,000 $ 4,500 20,000 9,100 4,400 1,200 2,000 500 $41,700 $41,700
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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