Solution-Entering the balances in the correct debit

Entering the balances in the correct debit

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Reference no: EM131754956

A highly simplified alphabetical list of trial balance accounts and their normal balances for the month ended March 31, 2014, follows.

Accounts Payable	8
Accounts Receivable	14
Accumulated Depreciation - Office Equipment	2
Cash	8
Common Stock	5
Dividends	12
Office Equipment	16
Prepaid Insurance	4
Retained Earnings	19
Service Revenue	46
Supplies	8
Unearned Revenues	6
Utilities Expense	4
Wages Expense	20

1. Prepare a work sheet, entering the trial balance accounts in the order in which they would normally appear and entering the balances in the correct debit or credit column.

2. Complete the work sheet using the following information: expired insurance, $2; estimated depreciation on office equipment, $2; accrued wages, $2; and unused supplies on hand, $2. In addition, $4 of the unearned revenues balance had been earned by the end of the month.

Reference no: EM131754956

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Entering the balances in the correct debit

Reference no: EM131754956

Reference no: EM131754956

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