Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which included his initial investment of $18,000 cash. After those seven transactions, the ledger included the following accounts with normal balances. Cash $ 37,600 Office supplies 890 Prepaid insurance 4,600 Office equipment 12,900 Accounts payable 12,900 Common stock 18,000 Dividends 3,370 Engineering fees earned 36,000 Rent expense 7,540 Required: 1. Prepare a trial balance for this business as of the end of May.

Question

Business

Nicole Sharp

26 March, 18:56

Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which included his initial investment of $18,000 cash. After those seven transactions, the ledger included the following accounts with normal balances. Cash $ 37,600 Office supplies 890 Prepaid insurance 4,600 Office equipment 12,900 Accounts payable 12,900 Common stock 18,000 Dividends 3,370 Engineering fees earned 36,000 Rent expense 7,540 Required: 1. Prepare a trial balance for this business as of the end of May.

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Cecelia Castillo · Answer 1

Trial balance for Yi Min

on the May 31, YY

Dr. Cr.

$ $

Cash 37,600

Office supplies 890

Prepaid insurance 4,600

Office equipment 12,900

Dividends 3,370

Rent expense 7,540

Accounts payable 12,900

Common stock 18,000

Engineering fees earned 36,000

66,900 66,900