The following accounts come from the ledger of SnowGo Company at December 31, 2014.
|
157 |
Equipment |
$88,000 |
301 Owner”s Capital |
$20,000 |
|
306 |
Owner”s Drawings |
8,000 |
212 Salaries and Wages |
|
|
201 |
Accounts Payable |
22,000 |
Payable |
2,000 |
|
726 |
Salaries and Wages |
200 Notes Payable |
19,000 |
|
|
Expense |
42,000 |
732 Utilities Expense |
3,000 |
|
|
112 |
Accounts Receivable |
4,000 |
130 Prepaid Insurance |
6,000 |
|
400 |
Service Revenue |
95,000 |
101 Cash |
7,000 |
Determine normal balances and list accounts in the order they appear in the ledger.
Accounts with debit balances appear in the left column, and those with credit balances in the right column.
Total the debit and credit columns to prove equality.