Mason Company Trial Balance December 31, 2019 Debit Credit Cash $20,000 Accounts Payable Insurance Expense Supplies Accounts Receivable $ 3,000 1,500 1,200 10,300 Salaries Payable Notes Payable Common Stock 1,900 3,100 10,000 2,000 Dividends Retained Earnings Service Revenue 8,000 19,200 2,100 Unearned Service Revenue Prepaid Insurance Salaries Expense Supplies Expense 1,900 9,500 900 $46,400 $48,200

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following trial balance that was prepared by the bookkeeper of Mason Company does not balance.                             Required:
Prepare a correct trial balance. Assume all accounts have normal balances
Mason Company
Trial Balance
December 31, 2019
Debit
Credit
Cash
$20,000
Accounts Payable
Insurance Expense
Supplies
Accounts Receivable
$ 3,000
1,500
1,200
10,300
Salaries Payable
Notes Payable
Common Stock
1,900
3,100
10,000
2,000
Dividends
Retained Earnings
Service Revenue
8,000
19,200
2,100
Unearned Service Revenue
Prepaid Insurance
Salaries Expense
Supplies Expense
1,900
9,500
900
$46,400 $48,200
Transcribed Image Text:Mason Company Trial Balance December 31, 2019 Debit Credit Cash $20,000 Accounts Payable Insurance Expense Supplies Accounts Receivable $ 3,000 1,500 1,200 10,300 Salaries Payable Notes Payable Common Stock 1,900 3,100 10,000 2,000 Dividends Retained Earnings Service Revenue 8,000 19,200 2,100 Unearned Service Revenue Prepaid Insurance Salaries Expense Supplies Expense 1,900 9,500 900 $46,400 $48,200
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