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William Consulting Engineers Trial Balance December 31, 2025 Debit Credit Cash $29,500 Accounts Receivable 50,100 Allowance for Doubtful Accounts $711 Supplies 1,500 Prepaid Insurance 1,620 Equipment 32,900 Accumulated Depreciation-Equipment 8,225 Notes Payable 7,200 Common Stock 10,000 Retained Earnings 26,381 Service Revenue 107,456 Rent Expense 9,243 Salaries and Wages Expense 32,830 Utilities Expenses 1,660 620 Office Expense $159,973 $159,973 1 Fees received in advance from clients $5,970, which were recorded as revenue. 2 Services performed for clients that were not recorded by December 31, $4,863. 3. Bad debt expense for the year is $1,508. 4. Insurance expired during the year $513. 5. Equipment is being depreciated at 10% per year. 6. William gave the bank a 90-day, 10% note for $7,200 on December 1, 2025. 7. Rent of the building is $711 per month. The rent for 2025 has been paid, as has that for January 2026, and recorded as Rent Expense. 8. Office salaries and wages earned but unpaid December 31, 2025, $2.510.

William Consulting Engineers Trial Balance December 31, 2025 Debit Credit Cash $29,500 Accounts Receivable 50,100 Allowance for Doubtful Accounts $711 Supplies 1,500 Prepaid Insurance 1,620 Equipment 32,900 Accumulated Depreciation-Equipment 8,225 Notes Payable 7,200 Common Stock 10,000 Retained Earnings 26,381 Service Revenue 107,456 Rent Expense 9,243 Salaries and Wages Expense 32,830 Utilities Expenses 1,660 620 Office Expense $159,973 $159,973 1 Fees received in advance from clients $5,970, which were recorded as revenue. 2 Services performed for clients that were not recorded by December 31, $4,863. 3. Bad debt expense for the year is $1,508. 4. Insurance expired during the year $513. 5. Equipment is being depreciated at 10% per year. 6. William gave the bank a 90-day, 10% note for $7,200 on December 1, 2025. 7. Rent of the building is $711 per month. The rent for 2025 has been paid, as has that for January 2026, and recorded as Rent Expense. 8. Office salaries and wages earned but unpaid December 31, 2025, $2.510.

FINANCIAL ACCOUNTING
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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William Consulting Engineers Trial Balance December 31, 2025 Debit Credit Cash $29,500 Accounts Receivable 50,100 Allowance for Doubtful Accounts $711 Supplies 1,500 Prepaid Insurance 1,620 Equipment 32,900 Accumulated Depreciation-Equipment 8,225 Notes Payable 7,200 Common Stock 10,000 Retained Earnings 26,381 Service Revenue 107,456 Rent Expense 9,243 Salaries and Wages Expense 32,830 Utilities Expenses 1,660 620 Office Expense $159,973 $159,973 1 Fees received in advance from clients $5,970, which were recorded as revenue. 2 Services performed for clients that were not recorded by December 31, $4,863. 3. Bad debt expense for the year is $1,508. 4. Insurance expired during the year $513. 5. Equipment is being depreciated at 10% per year. 6. William gave the bank a 90-day, 10% note for $7,200 on December 1, 2025. 7. Rent of the building is $711 per month. The rent for 2025 has been paid, as has that for January 2026, and recorded as Rent Expense. 8. Office salaries and wages earned but unpaid December 31, 2025, $2.510.
Transcribed Image Text:William Consulting Engineers Trial Balance December 31, 2025 Debit Credit Cash $29,500 Accounts Receivable 50,100 Allowance for Doubtful Accounts $711 Supplies 1,500 Prepaid Insurance 1,620 Equipment 32,900 Accumulated Depreciation-Equipment 8,225 Notes Payable 7,200 Common Stock 10,000 Retained Earnings 26,381 Service Revenue 107,456 Rent Expense 9,243 Salaries and Wages Expense 32,830 Utilities Expenses 1,660 620 Office Expense $159,973 $159,973 1 Fees received in advance from clients $5,970, which were recorded as revenue. 2 Services performed for clients that were not recorded by December 31, $4,863. 3. Bad debt expense for the year is $1,508. 4. Insurance expired during the year $513. 5. Equipment is being depreciated at 10% per year. 6. William gave the bank a 90-day, 10% note for $7,200 on December 1, 2025. 7. Rent of the building is $711 per month. The rent for 2025 has been paid, as has that for January 2026, and recorded as Rent Expense. 8. Office salaries and wages earned but unpaid December 31, 2025, $2.510.
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