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Preparing a trial balance

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Refer to the T-accounts constructed in PE 3-17. Using the ending balances in those T-accounts, construct a trial balance. Note: The only account that is common to these two sets of T-accounts is the cash account; add the two cash account balances together to get the total balance.

3-17
Construct a T-account representing each account impacted by 3-11 & 3-12. Post all of the journal entries to these T-accounts. Compute the ending balance in each account. Assume that the beginning balance in each T-account is zero.

3-11
Journal Entries
The company borrowed $85,000 in cash from Eastern Bank.
3-12
Journal Entries
The company used $45,000 in cash to purchase land on the west side of Hatu Lake.

 

Reference no: EM1353719

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