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What Is With The Worksheet/trial Balance?

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What Is With The Worksheet/trial Balance?

Postby Jantje » Tue Oct 10, 2017 4:44 pm

Union Company wants to prepare a worksheet for the month of December 2007. The following information was taken from the general ledger:

Number Account Amount

101 Cash $500

102 Accounts Receivable $1,000

104 Vehicle $7,500

105 Equipment $2,000

201 Accounts Payable $1,000

205 Ross Capital $10,000

300 Sales $4,500

301 Ad Expense $500

302 Insurance Expense $500

303 Rent Expense $1,000

304 Utilities Expense $1,000

305 Supplies Expense $1,500

Prepare a worksheet to include the following:

Heading

Account Numbers

Account Names

Trial Balance

Income Statement

Balance Sheet

Be sure to carry other the account totals to either the income statement or balance sheet.

I can't get it to balance, so I can't go past the trial balance part. The debit is $13,700, and the credit is $15,500. Is that how it's suppose to be? Do they not need to be equal? I thought they did. It's a trial balance, but. Trying to figure out where I went wrong.
Jantje
 
Posts: 51
Joined: Sat Apr 12, 2014 5:46 am

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