Solution :
Normal Debit balance Normal Credit balance
Asset Liabilities
Contra liability equity
expenses Contra asset
loss Revenues
Contra equity Gains
Now working on the Trial balance :
Classification Accounts Debit Credit
Asset Accounts receivable 8400
Asset Inventory 19800
Asset Equipment 74500
Asset Furniture 16600
Asset Cash 14000
Asset Trademark 8000
Asset Marketable equity securities 300
Asset Prepaid insurance expense 500
Asset Copyright 6000
Contra Asset Accumulated 10,000
Contra equity Dividends 3000
Equity Retained earnings 56200
Expense Cost of goods sold 60900
Expense Interest expense 9750
Expense Salary expense 30450
Expense rent expense 2100
Expense Depreciation expense 4000
Gain Gain on sale of building 2450
Liability Accounts payable 7200
Liability Salaries payable 5600
Liability Notes payable (due 12/31/19) 20900
Liability Notes payable (due 04/30/18) 2500
Liability Unearned revenue 3800
Loss Loss of sale of equipment 4500
Revenue Sales revenue 139500
Total $ 262,800 $ 248,150
Difference = common stock $ 14,650
Therefore the common stock on 31st of December 2017 = $ 14,650
