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On December 31, Year 1, Morgan Company had the following normal account balances in its general...

On December 31, Year 1, Morgan Company had the following normal account balances in its general ledger. Use this information to prepare a trial balance. Land $ 20,250 Unearned revenue 15,400 Dividends 5,400 Prepaid rent 5,850 Cash 58,920 Salaries expense 16,500 Accounts payable 2,280 Common stock 20,000 Operating expense 17,250 Office supplies 1,950 Advertising expense 2,500 Retained Earnings, 1/1/Year 1 15,430 Service revenue 82,280 Accounts receivable 6,770

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Answer #1

Morgan Company

Trial Balance

December 31, Year 1.

Accounts Titles Debit Credit
Land 20,250
Unearned revenue 15,400
Dividends 5,400
Prepaid rent 5,850
Cash 58,920
Salaries expense 16,500
Accounts payable 2,280
Common stock 20,000
Operating expense 17,250
Office supplies 1,950
Advertising expense 2,500
Retained Earnings, 1/1/Year 1 15,430
Service revenue 82,280
Accounts receivable 6,770
Total $135,390 $135,390
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