Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which included his initial investment of $19,500 cash. After those seven transactions, the ledger included the following accounts with normal balances.

Cash $ 37,641

Office Supplies 890

Prepaid Insurance 4,600

Office Equipment 12,900

Accounts Payable 12,900

Y. Min, Capital 18,000

Y. Min, Withdrawals 3,329

Engineering Fees Earned 36,000

Rent Expense 7,540

Prepare a trial balance for this business as of the end of May.

Amount Debit ($) Credit ($)

Assets

Cash 37,641

Office Supplies 890

Prepaid Insurance 4,600

Office Equipment 12,900

Liabilities

Accounts Payable 12,900

Equity

Y. Min, Capital 18,000

Y. Min, Withdrawals 3,329

Revenue

Engineering Fees Earned 36,000

Expenses

Rent Expense 7,540

Total 66,900 66,900

Explanation:

Trial Balance sheet includes all the accounts available in ledger.

Assets, Liabilities, Equity Revenue and expenses are added, however they are not given in our case

Amount Debit ($) Credit ($)

Assets

Cash 37,641

Office Supplies 890

Prepaid Insurance 4,600

Office Equipment 12,900

Liabilities

Accounts Payable 12,900

Equity

Y. Min, Capital 18,000

Y. Min, Withdrawals 3,329

Revenue

Engineering Fees Earned 36,000

Expenses

Rent Expense 7,540

Total 66,900 66,900