Fill in the blanks with the information provided. Kaitlin Cavallo & I 01/29/20 1:54 PM enu...

Solution:

Jane Maccoll Tutoring Service
Trail Balance
31-May-18
	Balance
Account title	Debit	Credit
Cash	$          3,600	$                    -
Accounts Receivable	$          1,500	$                    -
Office supplies	$              600	$                    -
Computer Equipment	$        16,100	$                    -
Accounts Payable	$                 -	$           13,000
Utilities Payable	$                 -	$                 600
Common stock	$                 -	$           11,900
Dividends	$          9,800	$                    -
Service Revenue	$                 -	$             9,600
Salaries Expense	$          1,800	$                    -
Rent Expense	$              700	$                    -
Utilities Expense	$          1,000	$                    -
Total	$        35,100	$           35,100

Notes:

1) Cash revenue was recorded as debit to accounts receivables. So, We have increase cash and decrease account receivables by $ 600.

2) Accounts Payable is under stated of Amount $ 1800 ( $2000 - $200 ). So, We have increase account payable by $1,800.

3) Utility Expense (Debit) and Utility payable(Credit) are not recorded. So, add to them with $ 500 each.

4) Common Stock is understated by $ 300. So, Add back $300 to common stock.