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Accounts Payable 11,510 Business Services Revenue 2,197 Cash 13,989 Equipment 15,100 Furniture and Fixtures 625 K....

Accounts Payable 11,510 Business Services Revenue 2,197 Cash 13,989 Equipment 15,100 Furniture and Fixtures 625 K. Nguyen, Capital 21,000 K. Nguyen, Drawing 650 Miscellaneous Expense 55 Prepaid Insurance 1,050 Rent Expense 1,485 Supplies 435 Utilities Expense 278 Wages Expense 1,040 All the above accounts have normal balances. Prepare a trial balance as of July 31, 20--. List all the accounts in the proper order as described in the textbook. If no amount is required, leave the entry box blank.

Business   Accounting   
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Answer: While recording the accounts on trial balance they should be in the following order :

  • assets
  • liabilities
  • capital / equity
  • dividends, if any
  • revenues
  • expenses.

Trial balance as of July 31, 20--

Account name Debit $ Credit $
cash 13,989
equipment 15,100
furniture & fixtures 625
K. Nguyen drawings 650
prepaid insurance 1,050
supplies 435
accounts payables 11,510
K. Nguyen capital 21,000
business services revenue 2,197
miscellaneous expense 55
rent expense 1,485
utilities expense 278
wages expense 1,040
TOTAL 34,707 34,707
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