Preparation of a correct trial balance of Oriole Co.
ORIOLE CO. Trial Balance
June 30, 2020
Debit side
Cash $3,305
Accounts receivable $2,666
Supplies $300
Equipment $5,110
Dividends $980
Wages expense $3,900
Office expense $1,345
Total debit balance $17,606
Credit side
Accounts payable $2,605
Unearned service revenue $875
Common stock $6,405
Retained earnings $3,405
Service revenue $4,316
Total Credit balance $17,606
•Cash = $3,275 + $750 - $570 -$75 - $75= $3,305
•Accounts receivable =$2,846 - $750 + $570 =$2,666
•Supplies =$1,205-$905 =$300
•Equipment =$4,205 +$905 =$5,110
•Accounts payable =$3,071- $206 -$260 =$2,605
•Unearned service revenue =$1,605 -$730 =$875
•Service revenue =$2,785 +$890 - $89 +$730 = $4,316
•Wages expense =$3,805 +$1,075 -$980 =$3,900
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