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Below is the complete list of accounts of Sooner Company and the related balance at the end of April. All accounts have their normal debit or credit balance. Cash, $2,800; Prepaid Rent, $6,300; Accounts Payable $3,200; Common Stock, $29,000; Service Revenue, $24,300; Salaries Expense, $7,100; Accounts Receivable, $5,000; Land, $49,000; Deferred Revenue, $1,750; Retained Earnings, $20,250; Supplies Expense, $8,300.

Required:
Prepare a trial balance with the list of accounts in the following order: assets, liabilities, stockholders' equity, revenues, and expenses.

Respuesta :

Answer and Explanation:

The preparation of the trial balance is presented below:

Particulars                              Debit                 Credit

Cash                                       $2,800

Prepaid Rent                         $6,300

Account receivable              $5,000

Land                                       $49,000

Account payable                                            $3,200

Deferred revenue                                           $1,750

Common stock                                                $29,000

Retained earnings                                          $20,250

Service revenue                                             $24,300

Salaries expense                  $7,100

Supplies expense                 $8,300

Total                                       $78,500             $78,500