Question

Below is the complete list of accounts of a company and the related balance at the end of April. All accounts have their normal debit or credit balance. Cash, $2,300; Prepaid Rent, $5,800; Accounts Payable $2,700; Common Stock, $24,000; Service Revenue, $23,800; Salaries Expense, $6,600; Accounts Receivable, $4,500; Land, $44,000; Deferred Revenue, $1,500; Retained Earnings, $19,000; Supplies Expense, $7,800.Prepare a trial balance with the list of accounts in the following order: Asset, Liability, Stockholder's equity, Revenue, and expanses.

Answer 1

Step-by-step explanation:

In trial balance, there are two columns namely debit columns and credit columns. The total of debit and credit columns should always be matched.

The debit columns records assets and expenses side

whereas, the credit column record revenue, stockholder equity, and the liability side.

The preparation of the trial balance is presented in the spreadsheet. Kindly find the attachment below: