Required information The following information applies to th

Required information The following information applies to the questions displayed below.] Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which included his initial investment of $18,000 cash. After those seven transactions, the ledger included the following accounts with normal balances Cash Office supplies Prepaid insurance office equipment Accounts payable Common stock Dividends Engineering fees earned 36,000 Rent expense $37,600 890 4,600 12,900 12,900 18,000 3,370 7,540 Required: 1. Prepare a trial balance for this business as of the end of May MIN ENGINEERING Trial Balance May 31 Debit Credit Totals

Solution

Trial balance :

	Debit	Credit
Cash	37600
Office supplies	890
Prepaid insurance	4600
Office equipment	1200
Account payable		1200
Common Stock		18000
Dividend	3370
Engineering Fees earned		36000
Rent expense	7540
Total	55200	55200