Accounting and Finance Foundations

Unit 6

Accounting and Finance Foundations Unit 6: Journalizing 498

Journalizing

Chapter 17Chapter 6

Student Assignment

Name: _______________________________________________________________ Date: _________________

17.3.1 Preparing the Trial Balance

General Ledger

December 20YY

Beginning

Balance

$0.00

Date

General

Ledger

Account

Description of Transaction Debit Credit Balance

1 12/31/20YY 110 Cash $10,500.00 $10,500.00

2 12/31/20YY 120 Accounts Receivable $1,500.00 $12,000.00

3 12/31/20YY 130 Supplies $1,200.00 $13,200.00

4 12/31/20YY 140 Furniture $13,200.00

5 12/31/20YY 210 Accounts Payable $4,500.00 $8,700.00

6 12/31/20YY 310 Capital, Joe Joey $7,500.00 $1,200.00

7 12/31/20YY 320 Owner’s Draw, Joe Joey $250.00 $1,450.00

8 12/31/20YY 330 Income Summary Account $1,450.00

9 12/31/20YY 410 Revenue, Design Services $2,200.00 -$750.00

10 12/31/20YY 420 Revenue, Design Products -$750.00

11 12/31/20YY 510 Rent Expense $550.00 -$200.00

12 12/31/20YY 520 Utilities Expense $200.00 $0.00

13 12/31/20YY 530 Office Expense $0.00

14 12/31/20YY 540 Liability Insurance Expense $0.00

The general journal entries have posted to the general ledger, and you are now tasked with completing

the trial balance for the period ending 12/31/20YY. Use the general ledger provided below to complete

the trial balance template.

Total $14,200.00 $14,200.00