Prepare a trial Balance at july 31 7/1 DR Cash 14,000 CR Capital Account 14,000

Question

Prepare a trial Balance at july 31 7/1 DR Cash 14,000 CR Capital Account 14,000 7/1 DR Fixed assets-vehicles 10,000 CR Cash 3,000 CR Accounts Payable 7,000 7/3 DR Cleaning supplies 800 CR Accounts Payable 800 7/5 DR Prepaid Insurance 1,800 CR Cash 1,800 7/12 DR Accounts receivable 3,800 CR Service Revenue 3,800 7/18 DR Accounts Payable 1,400 CR Cash 1,400 7/20 DR Salaries Expense 1,600 CR Cash 1,600 7/21 DR Cash 1,400 CR Accounts receivable 1,400 7/25 DR Accounts Receivable 1,500 CR Service Revenue 1,500 7/31 DR Vehicle expenses 400 CR Cash 400 7/31 DR Capital- Drawing 600 CR Cash 600

Explanation / Answer

Hi, If you like my answer rate me lifesaver first...that way only I can earn points. Thanks Trial Balance Cash Dr = 14,000 -3000 -1800 -1400 -1600 +1400 -400 -600 = 6600 Fixed assets-vehicles Dr = 10,000 Cleaning supplies Dr = 800 Prepaid Insurance Dr = 1,800 Accounts receivable Dr = 3,800 -1400 + 1500 = 3900 Salaries Expense Dr = 1,600 Vehicle expenses Dr = 400 Total Debit = 25100 Capital Account Cr = 14,000 -600 =13400 Service Revenue Cr = 3,800 + 1500 =5300 Accounts Payable Cr = 7,000 + 800 -1400 = 6400 Total Credit = 251000

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