Question

In: Accounting

E3–14 Prepare an adjusted trial balance for Toronto Mobile Pet Grooming as at June 30, 2020....

E3–14 Prepare an adjusted trial balance for Toronto Mobile Pet Grooming as at June 30, 2020. Assume that all accounts have their normal balances. List expenses in alphabetical order.

Accounts payable.............................................................. $ 4,000

Accumulated amortization—truck................................. 7,000

Amortization expense—truck.......................................... 1,000

Cash..................................................................................... 2,400

Truck................................................................................... 40,000

Insurance expense............................................................. 200

Les Birman, capital............................................................ 17,000

Les Birman, withdrawals................................................. 8,000

Prepaid insurance............................................................. 1,800

Salaries expense................................................................. 16,000

Salaries payable................................................................. 2,000

Service revenue.................................................................. 44,000

Grooming supplies............................................................ 4,000

Supplies expense................................................................ 2,000

Unearned service revenue................................................ 1,400

Expert Solution

Toronto Mobile Pet Grooming
Trial Balance
June 30, 2020
Cash (Asset account)	$2,400
Truck (Asset account)	$40,000
Grooming supplies (Asset account)	$4,000
Prepaid insurance (Asset account)	$1,800
Accounts Payable (Liability account)		$4,000
Salaries Payable (Liability account)		$2,000
Unearned Service Revenue (Liability account)		$1,400
Accumulated amortization—truck (Contra-asset account)		$7,000
Les Birman, capital (Capital account)		$17,000
Les Birman, withdrawals (Contra-capital account)	$8,000
Service Revenue (Revenue account)		$44,000
Amortization expense—truck (Expense account)	$1,000
Insurance expense (Expense account)	$200
Salaries Expense (Expense account)	$16,000
Supplies expense (Expense account)	$2,000
Total	$75,400	$75,400

.

*The Normal balance of Asset accounts, Expense accounts, and contra capital account is a debit balance
*The Normal balance of liability accounts, Revenue accounts, capital account, and a contra-asset account is a credit balance

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