Listed below are the ledger accounts for Borges Inc. at December 31, 2019. All accounts have normal balances. Service Revenue $2
3,230 Cash 12,850 Accounts Payable 2,825 Common Stock 15,000 Rent Expense 2,400 Dividends 1,500 Salaries Expense 4,300 Equipment 12,935 Accounts Receivable 5,700 Advertising Expense 1,370 Required: Prepare a trial balance for Borges at December 31, 2019. If an amount box does not require an entry, leave it blank.
1 answer:
Answer:
Explanation:
The debit and credit balance of trial balance is shown below:
Debit balance = Cash + Rent Expense + Dividends + Salaries Expense + Equipment + Accounts Receivable + Advertising Expense
= $12,850 + $2,400 + $1,500 + $4,300 + $12,935 + $5,700 + $1,370
= $41,055
And the credit balance = Service revenue + accounts payable + common stock
= $23,230 + $2,825 + $15,000
= $41,055
The preparation of the trial balance is given in the spreadsheet. Kindly find the attachment below:
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