Question

From the ledger balances below, prepare a trial balance for Oriole Company at June 30, 2017. All account balances are normal.

Accounts Payable		$ 1,260		Service Revenue		$8,890
Cash		5,660		Accounts Receivable		2,750
Common Stock		18,000		Salaries and Wages Expense		3,590
Dividends		1,610		Rent Expense		1,250
Equipment		13,290

Answer 1

Trial Balance
	Debit	Credit
Accounts Payable		$    1,260.00
Cash	$       5,660.00
Common Stock		$ 18,000.00
Dividends	$       1,610.00
Equipment	$    13,290.00
Service Revenue		$    8,890.00
Accounts Receivable	$       2,750.00
Salaries and Wages Expense	$       3,590.00
Rent Expense	$       1,250.00
Total	$    28,150.00	$ 28,150.00

When preparing trial balance All assets, expenses are drawing accounts are debited while revenues , Equity accounts and liabilities are credited.