An inexperienced bookkeeper prepared the following trial balance. Prepare a correct trial balance, assuming all account balances
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An inexperienced bookkeeper prepared the following trial balance. Prepare a correct trial balance, assuming all account balances are normal.
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Erika Company Trial Balance December 31, 2020 Debit Credit $16,800 Cash $ 3,500 Prepaid Insurance Accounts Payable 3,000 Unearned Service Revenue 4,200 Common Stock 13,000 Dividends 4,500 Service Revenue 25,600 Salaries and Wages Expense 18,600 Rent Expense 2,400 $39,600 $52,000
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Related Book For
Financial and Managerial Accounting
ISBN: 978-1119392132
3rd 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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