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Chapter 2: 22E (page 96)

Question:The accounts of Anderson Moving Company follow with their normal balances as of August 31, 2018. The accounts are listed in no particular order. Common Stock \( 49,800 Trucks \) 123,000 Insurance Expense 600 Fuel Expense 1,000 Accounts Payable 4,000 Dividends 5,600 Service Revenue 82,000 Utilities Expense 300 Building 41,000 Accounts Receivable 10,000 Advertising Expense 200 Notes Payable 56,000 Salaries Expense 6,000 Office Supplies 100 Cash 4,000 Prepare Anderson鈥檚 trial balance as of August 31, 2018.

Short Answer

Expert verified

The trial balance is the accounting worksheet with debit and credit sides and the total of trial balance is $191,800

Step by step solution

01

Step-by-Step SolutionStep 1 Definition of trial balance

The trial balance is defined as the accounting worksheet which is prepared to check the accuracy of the account balance in debits and credits.

02

Preparation of Trial Balance

Anderson Moving Company

Trial Balance

August 31, 2018

Account Titles

Debit ($)

Credit ($)

Cash

$4,000

Accounts Receivables

$10,000

Building

$41,000

Trucks

$123,000

Office Supplies

$100

Common stock

$49,800

Insurance expense

$600

Accounts payable

$4,000

Service revenue

$82,000

Advertising Expense

$200

Salaries Expense

$6,000

Fuel Expense

$1,000

Dividends

$5,600

Utility Expense

$300

Notes Payable

$56,000

Total

$191,800

$191,800

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Most popular questions from this chapter

Journalizing transactions and posting to T-accounts

Roland Foster Optical Dispensary completed the following transactions during the latter part of March:

Mar. 15 Purchased office supplies on account, \(3,400.

28 Paid \)1,800 on account.

Requirements ,

2. Open the following accounts (use T-account format): Cash (Beginning Balance of $21,000), Office Supplies, and Accounts Payable. Post the journal entries from Requirement 1 to the accounts, and compute the balance in each account.

Creating a chart of accounts Raymond Autobody Shop has the following accounts:

Accounts Payable Service Revenue

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Utilities Expense Common Stock

Automotive Supplies Advertising Expense

Dividends Unearned Revenue

Retained Earnings

Create a chart of accounts for Raymond Autobody Shop using the standard numbering system. Each account is separated by a factor of 10. For example, the first asset account will be 100 and the next asset account will 110

Identify which types of accounts have a normal debit balance and which types of accounts have a normal credit balance.

Identifying increases and decreases in accounts and normal balances Insert the missing information into the accounting equation. Signify increases as Incr. and decreases as Decr.

(a) ASSETS Retained Earnings Common Stock (d) Revenues Expenses Contributed Capital (g) (p) (h) Credit (k) Debit (l) Credit (i) (q) (j) Credit Incr. (r) (m) Credit Decr. (o) (f) Credit (c) LIABILITIES (b)

Using the following accounts and their balances, prepare the trial balance for Cooper Furniture Repair as of December 31, 2018. All accounts have normal balances.

Cash \( 7,000 Advertising Expense \) 1,200

Unearned Revenue 4,500 Utilities Expense 800

Equipment 10,000 Rent Expense 5,000

Service Revenue 8,000 Accounts Payable 2,300

Common Stock 12,200 Dividends 3,000
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