## Question

###### Prepare a corrected trial balance for Howard Company. All accounts should have a balance. (10 pts)...

Prepare a corrected trial balance for Howard Company. All accounts should have a balance. (10 pts) HOWARD COMPANY Trial Balance For the Quarter Ended 3/31/16 Debit $ 13,000 Cash $ 25.000 Accounts Receivable Prepaid insurance 2.500 Equipment 62,000 Accounts Payable 25,000 Unearned Service Revenue 12,000 Notes Payable 25,000 Owner's Capital 40.000 Owner's Drawings 1,500 Service Revenue 40,000 Salaries and Wages Expense 14,000 Utilities Expense 5,000 Rent Expense 10,000 $118.500 $147.500

## Answers

Credit HOWARD COMPANY Trial Balance For the quarter Ended 3/31/16 Debit Cash 13000 Accounts Receivable 25000 Prepaid Insurance 2500 Equipment 62000 Accounts payable Unearned service Revenue Notes payable Owners's Capital Owners Drawings 1500 Service Revenue Salaries and wages Expense 14000 Utilities Expenses 5000 Rent Expense 10000 Total 133000 16000 12000 25000 40000 40000 133000

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