Question

From the ledger balances given below, prepare a trial balance for the Amaro Company at June 30, 2020. All account balances are normal. Accounts Payable $8,100, Cash $5,800, Owner’s Capital $15,000, Owner’s Drawings $1,200, Equipment $17,000, Service Revenue $10,000, Accounts Receivable $3,000, Salaries and Wages Expense $5,100, and Rent Expense $1,000.Amaro CompanyTrial Balance
June 30, 2020 Debit Credit
Cash $ $
Accounts Rece $ $
Equipment $ $
Accounts Pay $ $
Cleland, Capital $ $
Cleland, Drawing $ $
Service Rev $ $
Salaries Exp $ $
Rent Expense $ $

Answer 1

Answer:

Amaro Company

Trial Balance

June 30, 2020

                                                            Debit                             Credit

Cash                                                   $ 5800                                 $

Accounts Receivable                            $ 3000                             $

Equipment                                            $17,000                              $

Accounts Payable                                     $                                 $  8100

Cleland, Capital                                         $                                $ 15,000

Cleland, Drawing                                     $ 1200                              $    

Service Revenue                                             $                              $ 10,000

Salaries Exp                                                 $5100                              $

Rent Expense                                              $ 1000                             $

Total                                                           $ 33,100                    $ 33,100

Trial balance is a list of all ledger accounts and cash book.

It can be prepared any time during the accounting period.

The debit and credit side of the trial balance are equal.

Expenses are debited . Drawing is an expense therefore it is debited.