Tom Zopf owns and manages a computer repair service which ha

Tom Zopf owns and manages a computer repair service, which had the following trial balance on December 31, 2016 (the end of its fiscal year) TABLETTE REPAIR SERVICE, INC. Trial Balance December 31, 2016 Debit Credit Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Common Stock Retained Earnings $ 7,900 15,700 12,500 3,200 20,300 $19,000 30,100 10,500 59,600 S59,600 Summarized transactions for January 2017 were as follows 1. Advertising costs, paid in cash, $1,170 2. Additional supplies acquired on account $3,670 3. Miscellaneous expenses, paid in cash, $1,790 4. Cash collected from customers in payment of accounts receivable $12,160 5. Cash paid to creditors for accounts payable due $12,240 6. Repair services performed during January: for cash $6,870; on account $8,670 7. Wages for January, paid in cash, $2,230 8. Dividends during January were $2,690

Solution

Solution:

Cash Account
S No	Particulars	Debit	S No	Particulars	Credit
	Beginning balance	$7,900.00	1	Advertising Expense	$1,170.00
4	Accounts receivables	$12,160.00	3	Miscellenous expense	$1,790.00
6	Service Revenue	$6,870.00	5	Accounts payable	$12,240.00
			7	Wage Expense	$2,230.00
			8	Dividend	$2,690.00
				Ending Balance	$6,810.00
	Total	$26,930.00		Total	$26,930.00