5. (TCO 2) Below are the accounts of Super Pool Service, Inc. The accounts have

Question

5. (TCO 2) Below are the accounts of Super Pool Service, Inc. The accounts have normal balances on June 30, 2012. The accounts are listed in no particular order.

Account                              Balance
Common stock                    $5,100
Accounts payable                $4,400
Service revenue                   $17,100
Land                                  $28,800
Note payable                       $9,500
Cash                                  $5,200
Dividends                            $6,100
Utilities expense                  $2,100
Accounts receivable             $10,600
Delivery expense                 $700
Retained earnings                $25,600
Salary expense                    $8,200

Prepare the company%u2019s trial balance as of June 30, 2012, listing accounts in proper sequence, as illustrated in the chapter. For example, Accounts Receivable comes before Land. List the expense with the largest balance first, the expense with the next largest balance second, and so on.

Explanation / Answer

Hi,

Please find the answer as follows:

Thanks.

Debit Credit Accounts receivable 10600 - Land 28800 - Cash 5200 - Note payable - 9500 Accounts payable - 4400 Common stock - 5100 Retained Earnings - 25600 Service revenue - 17100 Salary expense 8200 - Utilities expense 2100 - Delivery expense 700 - Dividends 6100 - Total 61700 61700

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