Window Help D ch 2: The Acct Cycle hm.tpx Below is the complete list of accounts

Question

Window Help D ch 2: The Acct Cycle hm.tpx Below is the complete list of accounts of Sooner Company and the related balance at the end of April. All accounts have their normal debit or credit balance. Cash, $3,500; Prepaid Rent, $7,000: Accounts Payable $3,900; Common Stock, $36,000; Service Revenue, $25,000; Salaries Expense, Accounts Receivable, $5,700; Land, $560 $2,100; Retained Eamings, $22,000, Supplies Expense, $9,000. Prepare a liabilities, stockholders' equity, revenues, and expenses. Trial April 30 28

Explanation / Answer

Trial Balance Balance Account Title Debit Credit Cash $                         3,500 Prepaid rent $                         7,000 Account Receivable $                         5,700 Land $                      56,000 Account Payable $                       3,900 deferred Revenue $                       2,100 Common Stock $                    36,000 Retained Earning $                    22,000 Service Revenue $                    25,000 Salaries Expenses $                         7,800 Suuplies Expenses $                         9,000 Total $                      89,000 $                    89,000

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