The following trial balance (Figure) was prepared incorrectly. a. Rearrange the accounts in proper order. b. Calculate
Question:
The following trial balance (Figure) was prepared incorrectly.
a. Rearrange the accounts in proper order.
b. Calculate the total of the trial balance. (Small numbers are used intentionally so that you can do the calculations in your head.) Assume each account has a normalbalance.
Transcribed Image Text:
TIMMONY CO. TRIAL BALANCE DECEMBER 31, 201X Dr D. Timmony, Capita 4800 1600 2 500 500 800 Rent Expense Advertising Expense Accounts Payable Taxi Fees Cash D. Timmony, Withdrawals 1600 1500 100 4900 Totals 9500
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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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