Question

The following is a list of accounts, in alphabetical order, for Sandhill, Inc. at July 31, 2018:

Accounts payable		$ 9,800		Income tax expense		$ 2,900
Accounts receivable		14,000		Insurance expense		1,700
Accumulated depreciation—equipment		20,800		Interest expense		3,600
Bank loan payable, due 2020		39,100		Prepaid insurance		200
Cash		5,900		Rent expense		9,100
Common shares		37,000		Repairs and maintenance expense		10,400
Depreciation expense		9,400		Retained earnings		20,800
Dividends declared		800		Salaries expense		25,500
Equipment		98,600		Salaries payable		700
Held for trading investments		22,000		Service revenue		75,900

Additional information:
All accounts have a normal balance. During the year, the company issued common shares for $ 11,000.

(a)

Prepare a trial balance.

SANDHILL INC. Trial Balance Choose the accounting periodChoose the accounting period  July 31, 2018Year Ended July 31, 2018Month Ended July 31, 2018
	Debit	Credit
Enter an account title	$ Enter a debit balance	$ Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Enter an account title	Enter a debit balance	Enter a credit balance
Totals	$ Enter a total for the debit column	$ Enter a total for the credit column

List of Accounts

Accounts Payable

Accounts Receivable

Accumulated Depreciation - Buildings

Accumulated Depreciation - Equipment

Accumulated Depreciation - Vehicles

Advertising Expense

Bank Loan Payable

Buildings

Cash

Common Shares

Concession Revenue

Cost of Goods Sold

Current Portion of Mortgage Payable

Depreciation Expense

Dividends Declared

Equipment

Fees Earned

Held for Trading Investments

Income Tax Expense

Income Tax Payable

Income Tax Receivable

Insurance Expense

Insurance Revenue

Interest Expense

Interest Revenue

Inventory

Land

Long-Term Investments

Mortgage Payable

No Entry

Office Expense

Prepaid Insurance

Prepaid Rent

Property Tax Expense

Rent Expense

Rent Revenue

Repairs and Maintenance Expense

Retained Earnings

Salaries Expense

Salaries Payable

Sales

Service Revenue

Supplies

Supplies Expense

Unearned Revenue

Utilities Expense

Vehicles

Answer 1