Can you tell me what I\'m doing wrong here? oFiles cengageNOWV2 | Online teac ×

Question

Can you tell me what I'm doing wrong here?

oFiles cengageNOWV2 | Online teac × Chegg Study | Guided Solutio × Secure l https://v2.c ilrn/takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator-assignment-take&inprogress-false Chapter Two Preparing a Trial Balance isted below are the ledger accounts for Borges Inc at December 31, 2019. All accounts have normal balances. Service Revenue Cash Accounts Payable Common Stock Rent Expense 2. $21,500 12,850 2,825 15,000 2,400 ,500 4,300 11,265 5,700 1,310 Salaries Expense Equipment Accounts Receivable Advertising Expense Required: Prepare a trial balance for Borges at December 31, 2019. If an amount box does not require an entry, leave it blank. Borges Inc. Trial Balance December 31, 2019 Account Cash Debit 12,850V 5,700 11,265 Credit Equipment Accounts Payable 2,825 1 more Check My Work uses remaining. Previous Next Progress: 2/3 items Assignment Score: 58.75% All work saved. Save and Exit Submit Assignment for Grading

Explanation / Answer

Answer

>First Assets account,
>Then Liabilities account,
>Then Equity account s(Common Stock , Retained earnings)
>Dividends,
>Then Revenue accounts,
>Then at last, all the expenses account.

Trial Balance

Explanation

Accounts title

Debit

Credit

Nature of account

Balances

Cash

$      12,850.00

Assets

have debit balances

Accounts Receivables

$        5,700.00

Assets

have debit balances

Equipments

$      11,265.00

Assets

have debit balances

Accounts Payable

$        2,825.00

Liabilities

have credit balances

Common Stock

$      15,000.00

Liabilities

have credit balances

Dividends

$        1,500.00

Part of Retained earnings statement

Reduces Retained Earnings, has debit balance

Service Revenue

$      21,500.00

Revenue

have credit balances

Rent Expense

$        2,400.00

Expenses

have debit balances

Salaries expenses

$        4,300.00

Expenses

have debit balances

Advertising Expenses

$        1,310.00

Expenses

have credit balances

Totals

$      39,325.00

$      39,325.00

Trial Balance

Explanation

Accounts title

Debit

Credit

Nature of account

Balances

Cash

$      12,850.00

Assets

have debit balances

Accounts Receivables

$        5,700.00

Assets

have debit balances

Equipments

$      11,265.00

Assets

have debit balances

Accounts Payable

$        2,825.00

Liabilities

have credit balances

Common Stock

$      15,000.00

Liabilities

have credit balances

Dividends

$        1,500.00

Part of Retained earnings statement

Reduces Retained Earnings, has debit balance

Service Revenue

$      21,500.00

Revenue

have credit balances

Rent Expense

$        2,400.00

Expenses

have debit balances

Salaries expenses

$        4,300.00

Expenses

have debit balances

Advertising Expenses

$        1,310.00

Expenses

have credit balances

Totals

$      39,325.00

$      39,325.00

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