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Accounting Question : Prepare A Trial Balance?

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Accounting Question : Prepare A Trial Balance?

Postby Derwan » Tue Oct 03, 2017 11:41 am

Xyz started a catering service and the following transactions occurred

a) Xyz began the company with an investment of 30000 cash and a van(vehicle) valued at 26000 .The business gave bill owners equity in the business

b) Paid 8000 for equipment

c) Purchased supplies on account 4800

d) Paid employee salary 2600

e) Received 4000 for a catering job

f) Performed services at a wedding on account 8600

g) Paid 2000 of the account payable created in transaction c

h) Received a 1600 bill for advertising expense that will be paid in the near future

i) Received cash on account 2200

j) Paid the following cash expenses:

1) Rent 3000

2) Insurance 1600

k) Xyz withdrew 2000 for personal use

Prepare a trial balance
Posts: 44
Joined: Thu Mar 06, 2014 8:12 pm

Accounting Question : Prepare A Trial Balance?

Postby Carly » Fri Oct 06, 2017 1:53 pm

journalize all those entries first then make a list of accounts what is known as a trial balance.
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Joined: Sun Jan 19, 2014 10:41 am

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