1.

Record in Journal
2. Post to Ledger
3. Adjusting entries
4. Adjusted trial balance: The Trial Balance is an internal statement; a summarization tool. It merely represents a listing of acco
5. Prepare financial statements
6. Close revenue and expense accounts
7. Post-closing trial balance
y represents a listing of accounting balance from the general ledger. It is not a financial statement.
Date Account Names Debit (Dr) Credit (Cr)
1-Dec Cash 10,000
Common Stock 10,000
2 Cash 20,000
Notes Payable 20,000
3 Equipment 5,000
Cash 5,000
3 Supplies 2,000
Accounts Payable 2,000
5 Cash 7,000
Service Revenue 7,000
10 Accounts Receivable 8,000
Service Revenue 8,000
17 Accounts Payable 1,200
Cash 1,200
20 Building 4,000
Cash 1,000
Notes Payable 3,000
25 Utility Expense 250
Cash 250
28 Cash 5,000
Accounts Receivable 5,000
30 Rent Expense 1,500
Cash 1,500
30 Dividends 3,000
Cash 3,000
 Cash Equiptment Common Stock

Accounts Receivable Accounts Payable Service Revenue

Supplies Notes Payable Utility Expense

Dividends Rent Expense

Creating a Trial Balance
TRIAL BALANCE
Debit Credit
Cash
Accounts Receivable
Supplies
Equipment
Building
Accounts Payable
Notes Payable
Common Stock
Service Revenue
Utility Expense
Rent Expense
Dividends