In: Accounting
An inexperienced bookkeeper prepared the following trial balance
that does not balance.
Prepare a correct trial balance, assuming all account balances are
normal.
ORIOLE COMPANY |
||||
Debit | Credit | |||
Cash |
$22,410 |
|||
Prepaid Insurance |
$ 4,700 |
|||
Accounts Payable |
4,110 |
|||
Unearned Service Revenue |
4,790 |
|||
Common Stock |
10,000 |
|||
Retained Earnings |
6,600 |
|||
Dividends |
7,140 |
|||
Service Revenue |
26,800 |
|||
Salaries and Wages Expense |
12,460 |
|||
Rent Expense |
5,590 |
|||
$39,660 |
$64,940 |