Question

I need help to prepare a Trial Balance with the information posted below. The Ledger is already done I am not able to balance when the information is inputted for the Trial balance.

1	Paws received $30,000 cash and issued common shares to shareholders
4	Purchased supplies, $1,000, and equipment, $2,600 on account
5	Performed checkup services, and received cash, $1,500
7	Paid cash to acquire land for an office site, $22,000
11	Performed a surgery on a sick cat, and billed the customer $500
16	Paid for the equipment, purchased Oct 4 on account
17	Paid the telephone bill, $95
18	Received partial payment from client on account, $250
22	Paid the water and electricity bills, $400
29	Received $2,000 cash for conducting a workshop on “Healthy Cat Living”
31	Paid employee salary, $1,300
31	Declared and paid dividends of $1,500

Answer 1

Answer

--- Working for ending balances for Trial balance

Transactions	Cash	Accounts receivables	Supplies	Equipment	Land	Accounts Payable	Common Stock	Service Revenue	Telephone expenses	Salaries expenses	Water & Electricity expenses	Dividends
1	$                30,000						$         30,000
4			$                 1,000	$                 2,600		$                        3,600
5	$                   1,500							$                1,500
7	$              (22,000)				$              22,000
11		$                     500						$                    500
16	$                (1,000)					$                     (1,000)
17	$                      (95)								$                     95
18	$                      250	$                   (250)
22	$                    (400)										$              400
29	$                   2,000							$                2,000
31	$                (1,300)									$        1,300
31	$                (1,500)											$          1,500
Ending balances	$                   7,455	$                     250	$                 1,000	$                 2,600	$              22,000	$                        2,600	$         30,000	$                4,000	$                     95	$        1,300	$              400	$          1,500

• Trial Balance, as asked

Accounts title	Debit	Credit
Cash	$                   7,455
Accounts receivables	$                      250
Supplies	$                   1,000
Equipment	$                   2,600
Land	$                22,000
Accounts Payable		$                 2,600
Common Stock		$               30,000
Dividends	$                   1,500
Service Revenue		$                 4,000
Telephone expenses	$                         95
Salaries expenses	$                   1,300
Water & Electricity expenses	$                      400
Total	$                36,600	$               36,600