Balances Accounts $40,000 Common Stock Accounts Balances Cash $50,000 Retained Earnings Dividends Account 50,000 35,000 Receivable Supplies Prepaid Rent Equipment Account Payble 1,100 1,100 Service Revenue Salaries Expense Rent Expense 3,000 65,000 30,000 17,000 12,000 Salaries Payable 5,000 Interest Expense 3,000 Supplies Expense Utilities Expense Interest Payable 3,000 7,000 Deferred Revenues 9,000 6,000 Notes Payable 30,000 Required: Prepare a trial balance by placing amounts in the appropriate debit and credit column and determining the balance on the equipment account.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I am trying to figure out how to find the Equipment amount as well as post the Retained earnings on the trial balance.  

My numbers are off by $25,800 now

Below are the account balances of Bruins Company at the end of November.
Accounts
Balances Accounts
$40,000 Common Stock
Balances
Cash
$50,000
Retained
Earnings
Account
50,000
35,000
Receivable
Supplies
Prepaid Rent
Equipment
Account Payble
Salaries Payable
Interest Payable
1,100
Dividends
1,100
Service Revenue
Salaries Expense
3,000
65,000
?
30,000
Rent Expense
Interest Expense
Supplies Expense
Utilities Expense
17,000
12,000
5,000
3,000
3,000
7,000
Deferred Revenues
9,000
6,000
Notes Payable
30,000
Required:
Prepare a trial balance by placing amounts in the appropriate debit and credit column and determining the balance on the equipment account.
Transcribed Image Text:Below are the account balances of Bruins Company at the end of November. Accounts Balances Accounts $40,000 Common Stock Balances Cash $50,000 Retained Earnings Account 50,000 35,000 Receivable Supplies Prepaid Rent Equipment Account Payble Salaries Payable Interest Payable 1,100 Dividends 1,100 Service Revenue Salaries Expense 3,000 65,000 ? 30,000 Rent Expense Interest Expense Supplies Expense Utilities Expense 17,000 12,000 5,000 3,000 3,000 7,000 Deferred Revenues 9,000 6,000 Notes Payable 30,000 Required: Prepare a trial balance by placing amounts in the appropriate debit and credit column and determining the balance on the equipment account.
Bruins Company
Trial Balance
November 30, 2020
Accounts
Debit
Credit
$ 40,000.00
$ 50,000.00
Cash
Account Receivable
Supplies
$
1,100.00
Prepaid Rent
$
3,000.00
??
Equipment
?
$ 17,000.00
$ 5,000.00
$ 3,000.00
$ 9,000.00
$ 30,000.00
$ 50,000.00
Account Payable
Salaries Payable
Interest Payable
Deferred Revenues
Notes Payable
Common Stock
Retained Earnings
35000
??
Dividends
$
1,100.00
$ 65,000.00
Service Revenue
$ 30,000.00
$ 12,000.00
$
Salaries Expense
Rent Expense
Interest Expense
3,000.00
Supplies Expense
$
7,000.00
Utilities Expense
$
6,000.00
$ 153,200.00 $ 179,000.00
$ 25,800.00
%24
Transcribed Image Text:Bruins Company Trial Balance November 30, 2020 Accounts Debit Credit $ 40,000.00 $ 50,000.00 Cash Account Receivable Supplies $ 1,100.00 Prepaid Rent $ 3,000.00 ?? Equipment ? $ 17,000.00 $ 5,000.00 $ 3,000.00 $ 9,000.00 $ 30,000.00 $ 50,000.00 Account Payable Salaries Payable Interest Payable Deferred Revenues Notes Payable Common Stock Retained Earnings 35000 ?? Dividends $ 1,100.00 $ 65,000.00 Service Revenue $ 30,000.00 $ 12,000.00 $ Salaries Expense Rent Expense Interest Expense 3,000.00 Supplies Expense $ 7,000.00 Utilities Expense $ 6,000.00 $ 153,200.00 $ 179,000.00 $ 25,800.00 %24
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