Required information The following information applies to the questions displaye

Question

Required information The following information applies to the questions displayed below.] Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which included his initial investment of $18,000 cash. After those seven transactions, the ledger included the following accounts with normal balances Cash Office supplies Prepaid insurance office equipment Accounts payable Common stock Dividends Engineering fees earned 36,000 Rent expense $37,600 890 4,600 12,900 12,900 18,000 3,370 7,540 Required: 1. Prepare a trial balance for this business as of the end of May MIN ENGINEERING Trial Balance May 31 Debit Credit Totals

Explanation / Answer

Trial balance :

Debit Credit Cash 37600 Office supplies 890 Prepaid insurance 4600 Office equipment 1200 Account payable 1200 Common Stock 18000 Dividend 3370 Engineering Fees earned 36000 Rent expense 7540 Total 55200 55200

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