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Your study partner is having trouble getting total debits to equal total credits in the trial balance
Your study partner is having trouble getting total debits to equal total credits in the trial balance. Credit $1,850 Trial Balance Accounts Debit Cash $ 6,800 Accounts Receivable Equipment 9,900 Accounts Payable 3,400 Deferred Revenue Common Stock 12,000 Retained Earnings Dividends 800 Service Revenue Salaries Expense 2,700 Utilities Expense Total $35,600 1,300 2,050 4,000 es 700 $9,900 Prepare a corrected trial balance by placing each account balance in the correct debitor credit column. Trial Balance Accounts Debit Credit Cash Accounts Receivable Equipment Accounts Payable Deferred Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense
Expert Solution
Answer :
Preparation of Corrected Trial Balance :
| Accounts | Debit | Credit |
| Cash | $6,800 | |
| Accounts Receivable | $1,850 | |
| Equipment | $9,900 | |
| Accounts Payable | $3,400 | |
| Deferred Revenue | $1,300 | |
| Common stock | $12,000 | |
| Retained earnings | $2,050 | |
| Dividends | $800 | |
| Service Revenue | $4,000 | |
| Salaries Expense | $2,700 | |
| Utilities Expense | $700 | |
| Total | $22,750 | $22,750 |
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