Dollar Inv
A accounting question ?
Could someone please help and show me what I did wrong with the trial balance?
Debits
Acc rec 4,500
Building 25, 500
cash 2,000
delivery equipment2,500
Interest Exp 200
Land 8,200
Merchandise Inv 9,500
Mortage Pay 6, 500
Notes Rec 300
Office Equipment 1,600
Office Supplies 85
Prepaid insurance 160
Prepaid int 15
Store equipment 5,450
Store supplies 155
Taxes Payable 250
Telcommunications Exp 110
Truck Repairs 130
Wage Expense 4,420
Credits
Acc Pay 2,400
Chuck Franko, Capital 18,300
Notes Payable 1,200
Revenues 35,950
I’m not sure about Interset Payable 150?? and Wages Payable 75?? dollars.
This is impossible to answer without knowing the journal entries that were made. The error could be in any account!
Wages Payable and Interest Payable are liabilities, and should be included (probably as credits) on the trial balance – I don’t see those accts listed above.
10. WHY IS SILVER THE BEST INVESTMENT NOW? Mike Maloney
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