An inexperienced bookkeeper prepared the following trial balance. Prepare a correct trial balance, assuming all account balances
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Shaushank Company Trial Balance December 31, 2020 Credit Debit Cash $10,600 $ 3,500 Prepaid Insurance Accounts Payable 3,000 Unearned Service Revenue 2,200 Owner's Capital Owner's Drawings 9,000 4,500 25,400 Service Revenue Salaries and Wages Expense Rent Expense 18,600 2,400 $31,400 $47,800
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Related Book For
Accounting Principles
ISBN: 978-1119411482
13th 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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