Can you please provide some guidance on how to balance this unadjusted trial balance? What is missing
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Question:
Can you please provide some guidance on how to balance this unadjusted trial balance?
What is missing to balance this;
| Cash in bank | $770 | |
| Accounts Receivables | $1,480 | |
| Office Supplies | $3,310 | |
| Equipment | $7,606 | |
| Accounts Payable | $648 | |
| Capital | $8000 | |
| Service Fees | $17,350 | |
| Salaries | $11,240 | |
| Utilities Expense | $842 | |
| Rent Expense | $360 | |
| Insurance Expense | $280 | |
| Advertising Expense | $146 | |
| Totals | $26,034 | $26,034 |
| INCOME STATEMENT | |||
| For the Month End August 31, 2023 | |||
| Revenue | |||
| Service Fees Earned | $ 17,350.00 | ||
| Operating Expenses | |||
| Advertising Expense | $ 146.00 | ||
| Insurance Expense | 280.00 | ||
| Rent Expense | 360.00 | ||
| Utilities Expense | 842.00 | ||
| Salaries Expense | 11,240.00 | ||
| Total Operating Expenses | 12,868.00 | ||
| Net Income | $ 4,482.00 |
how would we get this to balance?
| BALANCE SHEET | |||
| Thursday, August 31, 2023 | |||
| ASSETS | LIABILITIES AND OWNER'S EQUITY | ||
| Assets | Liabilities | ||
| Cash | $ 770.00 | Accounts Payable | $ 648.00 |
| Accounts Receivables | 1,480.00 | Total Liabilities | 648.00 |
| Office Supplies | 3,310.00 | ||
| Equipment | 7,606.00 | ||
| Owner's Equity | |||
| Sharon Kors, Capital | 12,482.00 | ||
| Total Assets | $ 13,166.00 | Total Liabilities and Owner's Equity | $ 13,130.00 |
Expert Answer:
ANSWER To balance the unadjusted trial balance and ensure it matches the totals ... View the full answer
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