Ask Question
3 April, 19:28

Using the following account balances for Garry's Tree Service, prepare a trial balance. If an amount box does not require an entry, leave it blank. Cash $25,000Supplies 1,000Accounts Payable 7,000Common Stock 32,910Wage Expense 2,000Machinery 18,350Wages Payable 3,600Service Revenue 21,000Rent Expense 11,500Unearned Revenue 1,500Accumulated Depreciation-Machinery 7,340Prepaid Rent 12,200Dividends 3,300

+3
Answers (1)
  1. 3 April, 20:25
    0
    Debits Credits

    Cash 25,000

    Supplies 1,000

    Wage Expense 2,000

    Machinery 18,350

    Rent Expense 11,500

    Prepaid Rent 12,200

    Accounts Payable 7,000

    Common Stock 32,910

    Wages Payable 3,600

    Service Revenue 21,000

    Unearned Revenue 1,500

    Accumulated Depreciation-Machinery 7,340

    Totals 70050 70050

    Explanation:

    A Trial Balance is a list of Balances - Debits and Credits extracted from ledger Accounts from which Financial Statement can be prepared.

    Note : Dividends are not included in the Trial Balance, they do not originate from any ledger Account.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Using the following account balances for Garry's Tree Service, prepare a trial balance. If an amount box does not require an entry, leave ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers