Business, 28.08.2020 19:01 elise47

An inexperienced bookkeeper prepared the following trial balance that does not balance. Prepare a correct trial balance, assuming all account balances are normal.
CINELLI COMPANY
Trial Balance
December 31, 2014
Debit Credit
Cash $22,460
Prepaid Insurance $ 5,400
Accounts Payable 4,160
Unearned Service Revenue 4,340
Common Stock 10,000
Retained Earnings 6,600
Dividends 7,600
Service Revenue 27,500
Salaries and Wages Expense 12,000
Rent Expense 5,140
$38,800 $66,400
CINELLI COMPANY
Trial Balance
December 31, 2014
Debit Credit
$ $
$ $

Answers: 3

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Answers

Answer from: brownvester44

Debit Totals $ 52600

Credit Total $ 52600

Explanation:

CINELLI COMPANY

Trial Balance

December 31, 2014

Debit Credit

$ $

Cash $22,460

Prepaid Insurance $ 5,400

Accounts Payable 4,160

Unearned Service Revenue 4,340

Common Stock 10,000

Retained Earnings 6,600

Dividends 7,600

Service Revenue 27,500

Salaries and Wages Expense 12,000

Rent Expense 5,140

$ 52600 52600

Accounts Payable and Unearned Service Revenue are liabilities.

Prepaid Insurance is an asset account so it is debited.

Salaries and Wages Expense and Rent Expense are expense account and are debited.

Common Stock ,Retained Earnings and Service Revenue are credit accounts.

Answer from: Quest

the u.s. census bureau produces data on the population and economy nationwide. it can you to analyze the kind of people living in your neighborhood. it does not show you the market of people willing to buy your product or an existing market for your product. that will require more market research. the census bureau only gives you an insight to the demographics in your area.

Answer from: Quest

borrow money from the government then pay the government back 5k

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