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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
An inexperienced bookkeeper prepared the following trial balance. Prepare a correct trial balance, assuming all account balances are normal.
| Â |
WALTER COMPANY |
 |
| Â |
Trial Balance |
 |
| Â |
December 31, 2012 |
 |
| Â |
Debit |
Credit |
|
Cash |
$10,800 |
 |
|
Prepaid Insurance |
 |
$ 3,500 |
|
Accounts Payable |
 |
3,000 |
|
Unearned Service Revenue |
2,200 |
 |
|
Owner’s Capital |
 |
9,000 |
|
Owner’s Drawings |
 |
4,500 |
|
Service Revenue |
 |
25,600 |
|
Salaries and Wages Expense |
18,600 |
 |
|
Rent Expense |
 |
2,400 |
| Â |
$31,600 |
$48,000 |
Â
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