P26A Below are the account balances of Bruins Company at the

P2-6A Below are the account balances of Bruins Company at the end of November. Prepa balar Accounts Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Salaries Payable Interest Payable Deferred Revenue Notes Payable Accounts Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Interest Expense Supplies Expense Utilities Expense Balances $50,000 35,000 1,100 65,000 30,000 12,000 3,000 7,000 Balances $40,000 50,000 1,100 3,000 7 17,000 5,000 3,000 9,000 30,000 6,000 Required: Prepare a trial balance by placing amounts in the appropriate debit or credit column and determining the balance of the Equipment account.

Solution

BRUINS COMPANY Trial Balance November 30 Debit Credit Cash 40000 Accounts Receivable 50000 Supplies 1100 Prepaid Rent 3000 Equipment 60800 Accounts Payable 17000 Salaries Payable 5000 Interest Payable 3000 Deferred Revenue 9000 Notes Payable 30000 Common Stock 50000 Retained Earnings 35000 Dividends 1100 Service Revenue 65000 Salaries Expense 30000 Rent Expense 12000 Interest expense 3000 Supplies Expense 7000 Utilities Expense 6000 Totals 214000 214000