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

TRIAL BALANCE Debit Credit Cash 6810 =7900-1170-1790+12160-12240+6870-2230-2690 Accounts receivable 12210 =15700-12160+8670 Supplies 16170 =12500+3670 Prepaid rent 3200 Equipment 20300 Accounts payable 10430 =19000+3670-12240 Common stock 30100 Retained earnings 7810 =10500-2690 Service revenue 15540 =6870+8670 Wages and salaries expense 2230 Advertising expenses 1170 Miscellaneous expenses 1790 Dividends 2690 63880 63880