Weygandt Financial Accounting 10e Tom Zopf owns and manages

Weygandt, Financial Accounting, 10e Tom Zopf owns and manages a computer repair service, which had the following trial balance on December 31, 2018 (the end of its fiscal y Windsor, Inc. Trial balance December 31, 2018 Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Common Stock Retained Earnings 9,000 15,100 12,700 2,800 19,300 $16,500 31,000 11,400 58,900$58.900 Summarized transactions for January 2019 were as follows 1. 2. 3. 4. S. 6. Advertising costs, paid in cash, $1,120. Additional supplies acquired on account $4,150. Miscellaneous expenses, paid in cash, $2,020. Cash collected from customers in payment of accounts receivable $12,340. Cash paid to creditors for accounts payable due $12,840. Repair services performed during January: for cash $6,850; on account $8,540.

Solution

	Trial Balance
	Cash			7,250
	Accounts receivable		11,300
	Supplies			16,850
	Prepaid Rent		2,800
	Equipment		19,300
	Accounts payable			7,810
	Common stock			31,000
	Retained earnings			11,400
	Advertising expense		1120
	Miscellaneous expense	2020
	Service revenue			15,390
	Salaries and wage expense	2,410
	dividends			2,550
	totals			65,600	65600
	Rule
	assets = opening balance + debit - credit
	liabilities = opening balance+credit entry- debit