[Business Name] Trial Balance [Current Month], 2026 -------------------------------------------------------- Account Title Debit Credit -------------------------------------------------------- Cash $X,XXX Accounts Receivable XXX Supplies XXX Prepaid Insurance XXX Accounts Payable $ XXX [Owner's Name], Capital X,XXX [Owner's Name], Drawing XXX Sales X,XXX Advertising Expense XXX Rent Expense XXX Utilities Expense XXX -------------------------------------------------------- Totals $X,XXX $X,XXX ======================================================== Phase 4: Troubleshooting Unbalanced Ledgers
Company Name, Income Statement, For Month Ended [Date]. Revenue: List Sales revenue. reinforcement activity 1 part a p 153 answer key full
The debit and credit columns should balance at $31,030.00 at this point in the journal. An Informative Story: The Life of a Ledger An Informative Story: The Life of a Ledger
After all transactions and adjustments for the full month, the journal totals typically balance at $42,675.00 . Accessing Full Solutions If an account has a normal debit balance
If Credits are higher, write the difference in the Debit column of the Income Statement and the Credit column of the Balance Sheet.
Update the running total. If an account has a normal debit balance (like Cash), a debit entry increases the balance, while a credit entry decreases it.
: Initial investment by Jasmine Quinn ($18,000), Rent Expense ($3,600), and various utility and supply purchases.
