till Connect - Ebook X Secure connect.mheducation.com/connect/hmEBook.do?setTab-

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till Connect - Ebook X Secure connect.mheducation.com/connect/hmEBook.do?setTab-sec.. Mayfield Email al Analytics GoDaddyWeWork Slack-TWE X Yext -@ | sea go book contents 1,100 Salaries Expense 3,000 Advertising Expense Page 8 BE2-12 Your study partner is having trouble getting total debits to equal total credits in the trial balance. Prepare a corrected trial balance by placing each account balance in the correct debit or credit column. Trial Balance Debit Credit Accounts Cash Accounts Receivable Equipment Accounts Payable Deferred Revenue Common Stock Retained Earnings $7,300 $2,100 10,400 3,900 1,100 11,000 3,900 Dividends 600 Service Revenue 4,500 Salaries Expense 3,200 Utilities Expense 800 $12.400 Total $36.400 EXERCISES E2-1 Listed below are several terms and phrases associated with the measurement process for external transactions List A List B 1. Account a. Record of all transactions affecting a company 2. Analyze b. Determine the dual effect of business events on

Explanation / Answer

Trial Balance Accounts Debit Credit Cash $7,300 Accounts Receivable $2,100 Equipment $10,400 Accounts Payable $3,900 Deferred Revenue $1,100 Common Stock $11,000 Retained Earnings $3,900 Dividends $600 Service Revenue $4,500 Salaries Expense 3200 Utilities Expense 800 $24,400 $24,400 Accounts receivable are assets and would be shown on debit side Accounts Payable are liabilities and would be shown on credit side Common Stock is the capital for the company, reported on the credit side Utilities are expense and would be shown on debit side

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