The journal of Ward Technology Solutions,includes the following entries for May,

Question

The journal of Ward Technology Solutions,includes the following entries for May, 2012:

May 1 The business received cash of $75,000 and and gave capital to the owner.
2 Purchased supplies of $500 on account.
4 Paid $53,000 cash for a building.
6 Performed service for customers and received cash, $2,600.
9 Paid $400 on accounts payable.
17 Performed service for customers on account, $2,500.
23 Received $1,900 cash on account from a customer.
31 Paid the following expenses: salary, $1,100; rent, $900.


Requirements:
4. Prepare the trial balance of Ward Technology Solutions at May 31, 2012.

Ward Technology Solutions Trial Balance May 31, 2012

ACCOUNT DEBIT CREDIT
Cash 75,000
Accounts Receivable -
Supplies -
Building -
Accounts payable -
Ward, capital -
Service revenue -
Salary expense -
Rent expense -
Total $75,000 $-

Explanation / Answer

ACCOUNT - DEBIT| CREDIT Cash - $24,100| Accounts Receivable - $600| Supplies - $500| Building - $53,000| Accounts payable - __|$100 Ward, capital - __|$75,000 Service revenue - __|5,100 Salary expense - $1,100| Rent expense - $900| Total $80,200 $80,200

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