An inexperienced bookkeeper prepared the following trial balance. Prepare a correct trial balance, assuming all account balances are normal.
|
KWUN COMPANY |
||
|
Debit |
Credit |
|
|
Cash |
$14,800 |
|
|
Prepaid Insurance |
$3,500 |
|
|
Accounts Payable |
3,000 |
|
|
Unearned Revenue |
2,200 |
|
|
P. Kwun, Capital |
13,000 |
|
|
P. Kwun, Drawing |
4,500 |
|
|
Service Revenue |
25,600 |
|
|
Salaries Expense |
18,600 |
|
|
Rent Expense |
2,400 |
|
|
$35,600 |
$52,000 |
|