On december 31, 2016, Morgan Company had the following normal account balances i

Question

On december 31, 2016, Morgan Company had the following normal account balances in its general ledger. Use this information to prepare a trial balance.

$30,000 32,000 8,000 5,600 90,000 18,000 7,000 80,000 41,000 2,500 3,500 Retained eanings, 1/12016 9,000 86,000 15,400 Unearned revenu Prepaid rent Cash Salaries expense Accounts payable Common stock Operating expense Office supplies Advertising expense Service revenue Accounts receivable MORGAN COMPANY Trial Balance December 31, 2016 Account Titles Debit Credit

Explanation / Answer

Account Debit Credit Cash 90000 Accounts Receivable 15400 Office supplies 2500 Prepaid rent 5600 Land 30000 Unearned revenue 32000 Accounts payable 7000 Common Stock 80000 Retained earnings 9000 Dividends 8000 Service revenue 86000 Salaries expense 18000 Operating expense 41000 Advertising expense 3500 Totals 214000 214000

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