Prepare a trial balance with the 10 activities listed below: The owners invested $8,500 from their personal account to the business account. Paid rent $650 with check #101. Initiated a petty cash fund $550 check #102. Received $750 cash for services rendered. Purchased office supplies for $180 with check #103. Purchased computer equipment $8,500, paid $1,600 with check #104 and will pay the remainder in 30 days. Received $1,200 cash for services rendered. Paid wages $560, check #105. Petty cash reimbursement office supplies $200, Maintenance Expense $140, Miscellaneous Expense $65. Cash on Hand $93. Check #106. Increased Petty Cash by $100, check #107.
Prepare a trial balance with the 10 activities listed below: The owners invested $8,500 from their personal account to the business account. Paid rent $650 with check #101. Initiated a petty cash fund $550 check #102. Received $750 cash for services rendered. Purchased office supplies for $180 with check #103. Purchased computer equipment $8,500, paid $1,600 with check #104 and will pay the remainder in 30 days. Received $1,200 cash for services rendered. Paid wages $560, check #105. Petty cash reimbursement office supplies $200, Maintenance Expense $140, Miscellaneous Expense $65. Cash on Hand $93. Check #106. Increased Petty Cash by $100, check #107.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Prepare a
- The owners invested $8,500 from their personal account to the business account.
- Paid rent $650 with check #101.
- Initiated a petty cash fund $550 check #102.
- Received $750 cash for services rendered.
- Purchased office supplies for $180 with check #103.
- Purchased computer equipment $8,500, paid $1,600 with check #104 and will pay the remainder in 30 days.
- Received $1,200 cash for services rendered.
- Paid wages $560, check #105.
- Petty cash reimbursement office supplies $200, Maintenance Expense $140, Miscellaneous Expense $65. Cash on Hand $93. Check #106.
- Increased Petty Cash by $100, check #107.
Expert Solution
Step 1
Trial balance refers to the statement or workbook in which all the closing balances of ledgers are maintained in the debit and credit column and their totals should be equal.
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