Prepare a corrected trial balance for Shafer Company. All accounts should have a normal balance. Shafer...

 

Transcribed Image Text:

Prepare a corrected trial balance for Shafer Company. All accounts should have a normal balance. Shafer Company Trial Balance For the Quarter Ended March 31, 2017 Cash Accounts Receivable Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Utilities Expense Rent Expense Debit $28,000 2.500 60,000 10,000 27,000 15,000 5,000 10,000 $157,500 Credit $32,000 15,000 20,000 30,000 1,500 52,000 $150,500 For the Quarter Ended March 31, 2017 $ $ Debit $ Credit Prepare a corrected trial balance for Shafer Company. All accounts should have a normal balance. Shafer Company Trial Balance For the Quarter Ended March 31, 2017 Cash Accounts Receivable Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Utilities Expense Rent Expense Debit $28,000 2.500 60,000 10,000 27,000 15,000 5,000 10,000 $157,500 Credit $32,000 15,000 20,000 30,000 1,500 52,000 $150,500 For the Quarter Ended March 31, 2017 $ $ Debit $ Credit

Answer rating: 100% (QA)

Answer Generally Normal debit and credit balances of account type ... View the full answer