3/21/2019 Trial Balance Period in Accounting Cycle Explained With Examples

Acct. No Aerofirma Corporation Accounts Debit Balance Credit Balance

Fiscal Year 20XX

Asset Accounts - Current Assets

101 Cash on hand 12,700

110 Accounts receivable 2,890

139 Finished goods inventory 3,830

163 Factory manufacturing equipment 10,560

Liability Accounts - Current Liabilities

200 Accounts payable 2,320

234 Payroll payable 3,720

235 Accrued fees 310

260 Bonds payable 1,400

280 Bank loans payable 3,100

Equity Accounts

320 Owner capital 9,400

350 Retained earnings 7,400

Revenue Accounts

410 Product sales revenues 13,000

420 Services sales 5,030

430 Rental property revenues 1,200

450 Interest earned revenues 300

Expense Accounts - Cost of Goods Sold

520 Raw materials costs 5,100

530 Direct labor costs 5,490

540 Indirect labor costs 3,730

550 Manufacturing plant costs 2,780

800 Other expenses 100

Total 47,180 47,180

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