Accounting and Finance Foundations

Unit 6

Accounting and Finance Foundations Unit 6: Journalizing 497

Mrs. King’s Interiors’ trial balance should look similar to this:

Journalizing

Chapter 6

Lesson 17.3 Preparing the Trial Balance (cont’d)

Student Guide

Chapter 17

Do you see that the debit and credit columns are equal and that the total ending balance is zero?

Based on this trial balance, we can assume that Mrs. King’s Interiors’ accounting records are

“in order” and contain no irregularities.

Mrs. King’s Interiors Trial Balance

Period ending – December 31, 20YY

Beginning

Balance

$0.00

Date

General

Ledger

Account

Description of Transaction Debit Credit Balance

1 12/31/20YY 110 Cash $30,550.00 $30,550.00

2 12/31/20YY 120 Accounts Receivable $2,500.00 $33,050.00

3 12/31/20YY 130 Supplies $10,650.00 $43,700.00

4 12/31/20YY 131 Less: Accumulated Depreciation $360.00 $43,340.00

5 12/31/20YY 210 Accounts Payable, Furniture World $6,500.00 $36,840.00

6 12/31/20YY 310 Capital, Mrs. King $30,500.00 $6,340.00

7 12/31/20YY 320 Owner’s Draw, Mrs. King $600.00 $6,940.00

8 12/31/20YY 410 Revenue, Design Services $8,000.00 -$1,060.00

9 12/31/20YY 510 Rent Expense $500.00 -$560.00

10 12/31/20YY 520 Utility Expense $200.00 -$360.00

11 12/31/20YY 530 Depreciation Expense $360.00 $0.00

Total $45,360.00 $45,360.00 $0.00