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  • Jose Mercado's Trial Balance

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    Patricia Anne Betita
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    This trial balance shows the financial position of JM Photocopying Center. It lists various asset, liability, equity, revenue and expense accounts with their debit and credit balances. Key assets include cash, equipment and unused supplies. Key expenses are salaries, rent, utilities and taxes. Revenue comes from service provided, while liabilities include a loan payable and accounts payable. Owner's equity stands at $10,000 after a $500 drawing.

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    This trial balance shows the financial position of JM Photocopying Center. It lists various asset, liability, equity, revenue and expense accounts with their debit and credit balances. Key assets include cash, equipment and unused supplies. Key expenses are salaries, rent, utilities and taxes. Revenue comes from service provided, while liabilities include a loan payable and accounts payable. Owner's equity stands at $10,000 after a $500 drawing.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    106 views1 page

    Jose Mercado's Trial Balance

    Uploaded by

    Patricia Anne Betita
    This trial balance shows the financial position of JM Photocopying Center. It lists various asset, liability, equity, revenue and expense accounts with their debit and credit balances. Key assets include cash, equipment and unused supplies. Key expenses are salaries, rent, utilities and taxes. Revenue comes from service provided, while liabilities include a loan payable and accounts payable. Owner's equity stands at $10,000 after a $500 drawing.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    JM Photocopying Center

    Trial Balance

    Accounts Title Debit Credit


    Cash 13,500
    Equipment 30,000
    Unused Supplies 10,000 Assets DR
    Accounts Recievable 0 Liabilities CR
    Loan Payable 50,000 Owner's E CR
    Accounts Payable 2,500 Drawings DR
    Equity 10,000 Revenues CR
    Mercado's Drawings 500 Expenses DR
    Service Revenue 10,000
    Taxes and License Expense 2,000
    Salaries Expense 4,000
    Rent Expense 10,000
    Utilities Expense 2,500
    72,500 72,500

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