Prepare a December 31 trial balance for TLX Co. using the following information and fill in the missing amount for Equipment (assume all data are correct). Cash$8,000 Accounts payable 4,000 Services revenue 20,000 Rent expense 3,000 Equipment ? Dividends 500 Common stock 16,500 Wages expense 12,000 Accounts receivable 1,000 Unearned revenue 2,000 What is the value for the equiment? Prepare a December 31 trial balance for TLX Co. TLX CO. Trial Balance December 31 Debit Credit Totals

Prepare a December 31 trial balance for TLX Co. using the following information and fill in the missing amount for Equipment (assume all data are correct). Cash$8,000 Accounts payable 4,000 Services revenue 20,000 Rent expense 3,000 Equipment ? Dividends 500 Common stock 16,500 Wages expense 12,000 Accounts receivable 1,000 Unearned revenue 2,000 What is the value for the equiment? Prepare a December 31 trial balance for TLX Co. TLX CO. Trial Balance December 31 Debit Credit Totals

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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Question

Prepare a December 31 trial balance for TLX Co. using the following information and fill in the missing amount for Equipment (assume all data are correct).

Cash$8,000

Accounts payable 4,000

Services revenue 20,000

Rent expense 3,000

Equipment ?

Dividends 500

Common stock 16,500

Wages expense 12,000

Accounts receivable 1,000

Unearned revenue 2,000

What is the value for the equiment?

Prepare a December 31 trial balance for TLX Co.

TLX CO.
Trial Balance
December 31
	Debit	Credit











Totals

Definition Definition Statement that shows the ending balance of all the ledger accounts of a firm at the end of the accounting period. The trial balance is prepared after all the entries have been posted to the ledger accounts and assists in preparing the final accounts of a firm.

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