Need help with unadjusted trial balance. Something is missing when I complete this.

Question

MyBnB started a home rental company on January 1. As of November 30, MyBnB reported the following balances. The company does not yet have a balance in Retained Earnings because this is its first year of operations so no net income has been reported in prior years.

accounts payable-$300, cash- $1000, Cleaning expense--900, common stock--3000, equipment--2400, repairs expense-200, service revenue-2000, wages expense--800

Prepare and unadjusted trial balance.

Answer 1

Hello Nikki G.,

Your unadjusted trial balance is below. My 30 plus years teaching and tutoring financial accounting allows me to explain this problem in a short period of time. You must focus on the normal balances of each account. Further, for presentation purposes, the trail balance should be in a specific order as follows: assets, liabilities, equity, revenues and expenses.

I hope the information is helpful, but feel free to message if I can help with anything else.

Sincerest Regards,

Joe D.

MyBnB

Unadjusted Trial Balance

As of November 30, 20xx

Accounts Debit Credit

Cash 1,000

Equipment 2,400

Accounts Payable 300

Common Stock 3,000

Service Revenue 2,000

Cleaning Expenses 900

Wages Expenses 800

Repair Expenses 200

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$ 5,300 5,300

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