The trial balance columns of the worksheet for Lim Company at June 30, 2014, are shown below
Question:
Other data:
1. A physical count reveals HK$500,000 of supplies on hand.
2. HK$100,000 of the unearned revenue is still unearned at month-end.
3. Accrued salaries are HK$250,000.
Instructions
Enter the trial balance on a worksheet and complete the worksheet.
Transcribed Image Text:
Lim Company Worksheet For the Month Ended June 30, 2014 Trial Balance Dr. Account Titles Cr. Cash HK$4,020 2,440 1,900 Accounts Receivable Supplies Accounts Payable HK$1,120 Trial Balance Account Titles Dr. Cr. Unearned Service Revenue 240 Share Capital-Ordinary 5,000 Service Revenue 3,100 Salaries and Wages Expense 860 Miscellaneous Expense 240 HK$9,460 HK$9,460
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Related Book For
Financial Accounting IFRS
ISBN: 978-1118285909
2nd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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