Need help finding the missing balance for this

Question

Prepare a December 31 trial balance for Jindal Company using the following information and fill in the missing amount for Equipment (assume all data are correct).

Cash	$ 8,000
Accounts payable	4,000
Services revenue	20,000
Rent expense	3,000
Equipment	?
Jindal, Withdrawals	500
Jindal, Capital	16,500
Wages expense	12,000
Accounts receivable	1,000
Unearned revenue	2,000

Answer 1

Hello Haley W.,

Using the data you provided, the information is below. The key here is understanding normal balances and the order items should appear on a Trial Balance. I am always open to showing effortless ways to remember normal balances, including how to prepare Trial Balances, Income Statements, Statements of Owner's Equity, Balance Sheets, and Statement of Cash Flows.

Message me if you would like to hear more.

Sincerest Regards,

Joe D.

Jindal Company

Trial Balance

For the Year Ended xxxx

                                                           Debit              Credit

Cash                                       $          8,000

Accounts Receivable                          1,000

Equipment                                         18,000

Accounts Payable                                                      4,000

Unearned Revenue                                                    2,000

Capital                                                                      16,500

Withdrawals                                           500

Service Revenue                                                       20,000

Rent Expense                                       3,000

Wages Expense                                  12,000

                                                           ---------------------------------------

                                               $         42,500            42,500

                                                          =======================