Question: Below is the complete list of accounts of Cobras Incorporated

Below is the complete list of accounts of Cobras Incorporated and the related balance at the end of March. All accounts have their normal debit or credit balance. Supplies, $1,000; Buildings, $55,000; Salaries Payable, $500; Common Stock, $35,000; Accounts Payable, $2,200; Utilities Expense, $3,700; Prepaid Insurance, $1,200; Service Revenue, $19,500; Accounts Receivable, $4,200; Cash, $3,500; Salaries Expense, $6,400; Retained Earnings, $17,800.

Required:
Prepare a trial balance with the list of accounts in the following order: assets, liabilities, stockholders’ equity, revenues, and expenses.




Sale on SolutionInn
Sales3
Views378
Comments
  • CreatedJuly 15, 2014
  • Files Included
Post your question
5000