Preparing a trial balance from T-accounts.
The T-accounts of Bennett Farm Equipment Repair follow as of May 31, 2018.
Assets = Liabilities + Equity Contributed capital + Retained earnings
Cash = Accounts Payable + Common stock β Dividends + Service β salaries
revenue expense
20,000 | 500 | 4,500 | 20,000 1,800 | | 4,500 2,000 |
10,000
2,000 | | 14,000 | 2,000 4,500 |
500
800 |
5,000 Notes Payable Property Expense
| 1,800
| 3,100 5,000 |35,000 800 |
Accounts Advertising
receivable expense
4,500 |
800 300 |
Equipment
14,000 |
Building
35,000 |
Land
10,000 |
Prepare Bennett Farm Equipment Repair's trial balance as of May 31, 2018.
Answers: 1
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Preparing a trial balance from T-accounts.
The T-accounts of Bennett Farm Equipment Repair follow a...
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