An inexperienced bookkeeper prepared the following trial balance that does not balance. Prepare a correct trial balance, assuming all account balances are normal.
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ELIZABETH BAKERY Trial Balance December 31, 2008 |
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Debit |
Credit |
|
|
Cash |
$33,600 |
|
|
Prepaid Insurance |
$4,900 |
|
|
Accounts Payable |
7,500 |
|
|
Unearned Fees |
5,800 |
|
|
Common Stock |
20,000 |
|
|
Dividends |
4,000 |
|
|
Service Revenue |
29,200 |
|
|
Salaries Expense |
17,000 |
|
|
Rent Expense |
3,000 |
|
|
$76,400 |
$48,600 |
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