{"id":3006,"date":"2020-10-01T21:18:07","date_gmt":"2020-10-01T21:18:07","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-financialaccounting\/?post_type=chapter&#038;p=3006"},"modified":"2021-02-06T16:42:32","modified_gmt":"2021-02-06T16:42:32","slug":"prepare-a-trial-balance","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/chapter\/prepare-a-trial-balance\/","title":{"raw":"Prepare a Trial Balance","rendered":"Prepare a Trial Balance"},"content":{"raw":"<div class=\"textbox learning-objectives\">\r\n<h3>Learning Outcomes<\/h3>\r\n<ul>\r\n \t<li>Prepare a trial balance<\/li>\r\n<\/ul>\r\n<\/div>\r\nHere is the completed ledger for NeatNiks for the month of October:\r\n<table class=\"fin-table gridded\"><caption class=\"u-clearfix\">\r\n<div>General Ledger<\/div>\r\n<div><span style=\"float: left\">Account: Cash<\/span><span style=\"float: right\">Account No. 110<\/span><\/div>\r\n<\/caption>\r\n<thead>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\r\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>20--<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th scope=\"row\">Oct<\/th>\r\n<th class=\"l\" scope=\"row\">1<\/th>\r\n<th scope=\"row\"><em>Balance<\/em><\/th>\r\n<td class=\"c\">a<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">0.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">1<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ1<\/td>\r\n<td class=\"r\">20,000.00<\/td>\r\n<td><\/td>\r\n<td class=\"r\">20,000.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">4<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ1<\/td>\r\n<td><\/td>\r\n<td class=\"r\">12,000.00<\/td>\r\n<td class=\"r\">8,000.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">15<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ1<\/td>\r\n<td class=\"r\">1,500.00<\/td>\r\n<td><\/td>\r\n<td class=\"r\">9,500.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">25<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ1<\/td>\r\n<td><\/td>\r\n<td class=\"r\">2,600.00<\/td>\r\n<td class=\"r\">6,900.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">26<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ1<\/td>\r\n<td><\/td>\r\n<td class=\"r\">1,000.00<\/td>\r\n<td class=\"r\">5,900.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">30<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ2<\/td>\r\n<td class=\"r\">1,600.00<\/td>\r\n<td><\/td>\r\n<td class=\"r\">7,500.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">31<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ2<\/td>\r\n<td><\/td>\r\n<td class=\"r\">4,000.00<\/td>\r\n<td class=\"r\">3,500.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<tbody>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table class=\"fin-table gridded\"><caption class=\"u-clearfix\">\r\n<div>General Ledger<\/div>\r\n<div><span style=\"float: left\">Account: Accounts Receivable<\/span><span style=\"float: right\">Account No. 120<\/span><\/div>\r\n<\/caption>\r\n<thead>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\r\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>20--<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th scope=\"row\">Oct<\/th>\r\n<th class=\"l\" scope=\"row\">1<\/th>\r\n<th scope=\"row\"><em>Balance<\/em><\/th>\r\n<td class=\"c\">a<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">0.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">20<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ1<\/td>\r\n<td class=\"r\">7,250.00<\/td>\r\n<td><\/td>\r\n<td class=\"r\">7,250.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">30<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ2<\/td>\r\n<td><\/td>\r\n<td class=\"r\">1,600.00<\/td>\r\n<td class=\"r\">5,650.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<tbody>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table class=\"fin-table gridded\"><caption class=\"u-clearfix\">\r\n<div>General Ledger<\/div>\r\n<div><span style=\"float: left\">Account: Supplies<\/span><span style=\"float: right\">Account No. 125<\/span><\/div>\r\n<\/caption>\r\n<thead>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\r\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>20--<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th scope=\"row\">Oct<\/th>\r\n<th class=\"l\" scope=\"row\">1<\/th>\r\n<th scope=\"row\"><em>Balance<\/em><\/th>\r\n<td class=\"c\">a<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">0.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">7<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ1<\/td>\r\n<td class=\"r\">2,600.00<\/td>\r\n<td><\/td>\r\n<td class=\"r\">2,600.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<tbody>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table class=\"fin-table gridded\"><caption class=\"u-clearfix\">\r\n<div>General Ledger<\/div>\r\n<div><span style=\"float: left\">Account: Prepaid Rent<\/span><span style=\"float: right\">Account No. 130<\/span><\/div>\r\n<\/caption>\r\n<thead>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\r\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>20--<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th scope=\"row\">Oct<\/th>\r\n<th class=\"l\" scope=\"row\">1<\/th>\r\n<th scope=\"row\"><em>Balance<\/em><\/th>\r\n<td class=\"c\">a<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">0.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">4<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ1<\/td>\r\n<td class=\"r\">12,000.00<\/td>\r\n<td><\/td>\r\n<td class=\"r\">12,000.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<tbody>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table class=\"fin-table gridded\"><caption class=\"u-clearfix\">\r\n<div>General Ledger<\/div>\r\n<div><span style=\"float: left\">Account: Accounts Payable<\/span><span style=\"float: right\">Account No. 210<\/span><\/div>\r\n<\/caption>\r\n<thead>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\r\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>20--<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th scope=\"row\">Oct<\/th>\r\n<th class=\"l\" scope=\"row\">1<\/th>\r\n<th scope=\"row\"><em>Balance<\/em><\/th>\r\n<td class=\"c\">a<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">0.00<\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">7<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ1<\/td>\r\n<td><\/td>\r\n<td class=\"r\">2,600.00<\/td>\r\n<td><\/td>\r\n<td class=\"r\">2,600.00<\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">26<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ1<\/td>\r\n<td class=\"r\">1,000.00<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">1,600.00<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<tbody>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table class=\"fin-table gridded\"><caption class=\"u-clearfix\">\r\n<div>General Ledger<\/div>\r\n<div><span style=\"float: left\">Account: Contractor Payable<\/span><span style=\"float: right\">Account No. 220<\/span><\/div>\r\n<\/caption>\r\n<thead>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\r\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>20--<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th scope=\"row\">Oct<\/th>\r\n<th class=\"l\" scope=\"row\">1<\/th>\r\n<th scope=\"row\"><em>Balance<\/em><\/th>\r\n<td class=\"c\">a<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">0.00<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<tbody>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table class=\"fin-table gridded\"><caption class=\"u-clearfix\">\r\n<div>General Ledger<\/div>\r\n<div><span style=\"float: left\">Account: Nick Frank, Capital<\/span><span style=\"float: right\">Account No. 310<\/span><\/div>\r\n<\/caption>\r\n<thead>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\r\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>20--<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th scope=\"row\">Oct<\/th>\r\n<th class=\"l\" scope=\"row\">1<\/th>\r\n<th scope=\"row\"><em>Balance<\/em><\/th>\r\n<td class=\"c\">a<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">0.00<\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">1<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ1<\/td>\r\n<td><\/td>\r\n<td class=\"r\">20,000.00<\/td>\r\n<td><\/td>\r\n<td class=\"r\">20,000.00<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<tbody>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table class=\"fin-table gridded\"><caption class=\"u-clearfix\">\r\n<div>General Ledger<\/div>\r\n<div><span style=\"float: left\">Account: Nick Frank, Withdrawals<\/span><span style=\"float: right\">Account No. 320<\/span><\/div>\r\n<\/caption>\r\n<thead>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\r\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>20--<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th scope=\"row\">Oct<\/th>\r\n<th class=\"l\" scope=\"row\">1<\/th>\r\n<th scope=\"row\"><em>Balance<\/em><\/th>\r\n<td class=\"c\">a<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">0.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">31<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ2<\/td>\r\n<td class=\"r\">4,000.00<\/td>\r\n<td><\/td>\r\n<td class=\"r\">4,000.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<tbody>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table class=\"fin-table gridded\"><caption class=\"u-clearfix\">\r\n<div>General Ledger<\/div>\r\n<div><span style=\"float: left\">Account: Service Revenue<\/span><span style=\"float: right\">Account No. 410<\/span><\/div>\r\n<\/caption>\r\n<thead>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\r\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>20--<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th scope=\"row\">Oct<\/th>\r\n<th class=\"l\" scope=\"row\">1<\/th>\r\n<th scope=\"row\"><em>Balance<\/em><\/th>\r\n<td class=\"c\">a<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">0.00<\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">15<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ1<\/td>\r\n<td><\/td>\r\n<td class=\"r\">1,500.00<\/td>\r\n<td><\/td>\r\n<td class=\"r\">1,500.00<\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">20<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ1<\/td>\r\n<td><\/td>\r\n<td class=\"r\">7,250.00<\/td>\r\n<td><\/td>\r\n<td class=\"r\">8,750.00<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<tbody>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table class=\"fin-table gridded\"><caption class=\"u-clearfix\">\r\n<div>General Ledger<\/div>\r\n<div><span style=\"float: left\">Account: Insurance Expense<\/span><span style=\"float: right\">Account No. 510<\/span><\/div>\r\n<\/caption>\r\n<thead>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\r\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>20--<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th scope=\"row\">Oct<\/th>\r\n<th class=\"l\" scope=\"row\">1<\/th>\r\n<th scope=\"row\"><em>Balance<\/em><\/th>\r\n<td class=\"c\">a<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">0.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">25<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ1<\/td>\r\n<td class=\"r\">1,500.00<\/td>\r\n<td><\/td>\r\n<td class=\"r\">1,500.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<tbody>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table class=\"fin-table gridded\"><caption class=\"u-clearfix\">\r\n<div>General Ledger<\/div>\r\n<div><span style=\"float: left\">Account: Rent Expense<\/span><span style=\"float: right\">Account No. 520<\/span><\/div>\r\n<\/caption>\r\n<thead>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\r\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>20--<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th scope=\"row\">Oct<\/th>\r\n<th class=\"l\" scope=\"row\">1<\/th>\r\n<th scope=\"row\"><em>Balance<\/em><\/th>\r\n<td class=\"c\">a<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">0.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\"><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">0.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<tbody>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table class=\"fin-table gridded\"><caption class=\"u-clearfix\">\r\n<div>General Ledger<\/div>\r\n<div><span style=\"float: left\">Account: Supplies Expense<\/span><span style=\"float: right\">Account No. 530<\/span><\/div>\r\n<\/caption>\r\n<thead>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\r\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>20--<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th scope=\"row\">Oct<\/th>\r\n<th class=\"l\" scope=\"row\">1<\/th>\r\n<th scope=\"row\"><em>Balance<\/em><\/th>\r\n<td class=\"c\">a<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">0.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\"><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">0.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<tbody>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table class=\"fin-table gridded\"><caption class=\"u-clearfix\">\r\n<div>General Ledger<\/div>\r\n<div><span style=\"float: left\">Account: Contractor Expense<\/span><span style=\"float: right\">Account No. 540<\/span><\/div>\r\n<\/caption>\r\n<thead>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\r\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\r\n<\/tr>\r\n<tr>\r\n<th class=\"c\" scope=\"col\">Debit<\/th>\r\n<th class=\"c\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>20--<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th scope=\"row\">Oct<\/th>\r\n<th class=\"l\" scope=\"row\">1<\/th>\r\n<th scope=\"row\"><em>Balance<\/em><\/th>\r\n<td class=\"c\">a<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">0.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\r\n<td class=\"l\">25<\/td>\r\n<td><\/td>\r\n<td class=\"c\">GJ1<\/td>\r\n<td class=\"r\">1,100.00<\/td>\r\n<td><\/td>\r\n<td class=\"r\">1,100.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<tbody>\r\n<tr>\r\n<td colspan=\"8\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\nWhen we wrote our journal entries, if we made sure that debits were equal to credits, and if we posted those journal entries exactly as they were writing, then it would be mathematically impossible for the total debits to not equal total credits in the ledger. There\u2019s an easy way to check this: run a trial balance.\r\n\r\nFirst, list all the ledger accounts.\r\n\r\nPut all the debit balances in one column, and all the credit balances in another, and compare the totals, like this:\r\n\r\n&nbsp;\r\n<table class=\"fin-table gridded\"><caption>NeatNiks\r\nTrial Balance (unadjusted)\r\nFor the month ended October 31, 20XX<\/caption>\r\n<thead>\r\n<tr>\r\n<th scope=\"col\"><span class=\"u-sr-only\">Reference No.<\/span><\/th>\r\n<th scope=\"col\"><span class=\"u-sr-only\">Accounts<\/span><\/th>\r\n<th scope=\"col\">Debits<\/th>\r\n<th scope=\"col\">Credits<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>110<\/td>\r\n<td>Checking<\/td>\r\n<td class=\"r\">3,500.00<\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>120<\/td>\r\n<td>Accounts Receivable<\/td>\r\n<td class=\"r\">5,650.00<\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>125<\/td>\r\n<td>Supplies<\/td>\r\n<td class=\"r\">2,600.00<\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>130<\/td>\r\n<td>Prepaid Rent<\/td>\r\n<td class=\"r\">12,000.00<\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>210<\/td>\r\n<td>Account Payable<\/td>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\">1,600.00<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>220<\/td>\r\n<td>Contractor Payable<\/td>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\">-<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>310<\/td>\r\n<td class=\"r\">Nick Frank, Capital Contributions<\/td>\r\n<td class=\"r\"><\/td>\r\n<td>20,000.00<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>330<\/td>\r\n<td>Nick Frank, Withdrawals<\/td>\r\n<td class=\"r\">4,000.00<\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>410<\/td>\r\n<td>Service Revenue<\/td>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\">8,750.00<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>510<\/td>\r\n<td>Insurance Revenue<\/td>\r\n<td class=\"r\">1,500.00<\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>520<\/td>\r\n<td>Rent Expense<\/td>\r\n<td class=\"r\">-<\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>530<\/td>\r\n<td>Supplies Expense<\/td>\r\n<td class=\"r\">-<\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>540<\/td>\r\n<td>Contractor Expense<\/td>\r\n<td class=\"r\">1,100.00<\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<tfoot>\r\n<tr>\r\n<td><\/td>\r\n<td>Totals<\/td>\r\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single line<\/span> 30,350.00\r\n<span class=\"u-sr-only\">Double line<\/span><\/td>\r\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single line<\/span> 30,350.00\r\n<span class=\"u-sr-only\">Double line<\/span><\/td>\r\n<\/tr>\r\n<\/tfoot>\r\n<\/table>\r\nOnce you have determined that total debits equals total credits, you can start to look at the accuracy of individual accounts. The Trial Balance\u00a0tests the equality of debit and credits.\u00a0 Just because the trial balance is in balance, doesn\u2019t mean everything is correct. For instance, you could have posted a journal entry completely backward or left one out. In addition, we may need to make some additional journal entries. We should have a rent expense for October, some supplies expense, and we owe our independent contractors some payments too. We\u2019ll cover these adjusting journal entries in the next section, and then we\u2019ll be ready to produce some financial statements.\r\n<div class=\"textbox tryit\">\r\n<h3>Practice Question<\/h3>\r\nhttps:\/\/assessments.lumenlearning.com\/assessments\/23377\r\n\r\n[ohm_question]208086[\/ohm_question]\r\n\r\n<\/div>","rendered":"<div class=\"textbox learning-objectives\">\n<h3>Learning Outcomes<\/h3>\n<ul>\n<li>Prepare a trial balance<\/li>\n<\/ul>\n<\/div>\n<p>Here is the completed ledger for NeatNiks for the month of October:<\/p>\n<table class=\"fin-table gridded\">\n<caption class=\"u-clearfix\">\n<\/caption>\n<thead>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<tr>\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\n<\/tr>\n<tr>\n<th class=\"c\" scope=\"col\">Debit<\/th>\n<th class=\"c\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>20&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Oct<\/th>\n<th class=\"l\" scope=\"row\">1<\/th>\n<th scope=\"row\"><em>Balance<\/em><\/th>\n<td class=\"c\">a<\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">0.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">1<\/td>\n<td><\/td>\n<td class=\"c\">GJ1<\/td>\n<td class=\"r\">20,000.00<\/td>\n<td><\/td>\n<td class=\"r\">20,000.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">4<\/td>\n<td><\/td>\n<td class=\"c\">GJ1<\/td>\n<td><\/td>\n<td class=\"r\">12,000.00<\/td>\n<td class=\"r\">8,000.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">15<\/td>\n<td><\/td>\n<td class=\"c\">GJ1<\/td>\n<td class=\"r\">1,500.00<\/td>\n<td><\/td>\n<td class=\"r\">9,500.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">25<\/td>\n<td><\/td>\n<td class=\"c\">GJ1<\/td>\n<td><\/td>\n<td class=\"r\">2,600.00<\/td>\n<td class=\"r\">6,900.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">26<\/td>\n<td><\/td>\n<td class=\"c\">GJ1<\/td>\n<td><\/td>\n<td class=\"r\">1,000.00<\/td>\n<td class=\"r\">5,900.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">30<\/td>\n<td><\/td>\n<td class=\"c\">GJ2<\/td>\n<td class=\"r\">1,600.00<\/td>\n<td><\/td>\n<td class=\"r\">7,500.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">31<\/td>\n<td><\/td>\n<td class=\"c\">GJ2<\/td>\n<td><\/td>\n<td class=\"r\">4,000.00<\/td>\n<td class=\"r\">3,500.00<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"fin-table gridded\">\n<caption class=\"u-clearfix\">\n<\/caption>\n<thead>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<tr>\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\n<\/tr>\n<tr>\n<th class=\"c\" scope=\"col\">Debit<\/th>\n<th class=\"c\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>20&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Oct<\/th>\n<th class=\"l\" scope=\"row\">1<\/th>\n<th scope=\"row\"><em>Balance<\/em><\/th>\n<td class=\"c\">a<\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">0.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">20<\/td>\n<td><\/td>\n<td class=\"c\">GJ1<\/td>\n<td class=\"r\">7,250.00<\/td>\n<td><\/td>\n<td class=\"r\">7,250.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">30<\/td>\n<td><\/td>\n<td class=\"c\">GJ2<\/td>\n<td><\/td>\n<td class=\"r\">1,600.00<\/td>\n<td class=\"r\">5,650.00<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"fin-table gridded\">\n<caption class=\"u-clearfix\">\n<\/caption>\n<thead>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<tr>\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\n<\/tr>\n<tr>\n<th class=\"c\" scope=\"col\">Debit<\/th>\n<th class=\"c\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>20&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Oct<\/th>\n<th class=\"l\" scope=\"row\">1<\/th>\n<th scope=\"row\"><em>Balance<\/em><\/th>\n<td class=\"c\">a<\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">0.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">7<\/td>\n<td><\/td>\n<td class=\"c\">GJ1<\/td>\n<td class=\"r\">2,600.00<\/td>\n<td><\/td>\n<td class=\"r\">2,600.00<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"fin-table gridded\">\n<caption class=\"u-clearfix\">\n<\/caption>\n<thead>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<tr>\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\n<\/tr>\n<tr>\n<th class=\"c\" scope=\"col\">Debit<\/th>\n<th class=\"c\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>20&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Oct<\/th>\n<th class=\"l\" scope=\"row\">1<\/th>\n<th scope=\"row\"><em>Balance<\/em><\/th>\n<td class=\"c\">a<\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">0.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">4<\/td>\n<td><\/td>\n<td class=\"c\">GJ1<\/td>\n<td class=\"r\">12,000.00<\/td>\n<td><\/td>\n<td class=\"r\">12,000.00<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"fin-table gridded\">\n<caption class=\"u-clearfix\">\n<\/caption>\n<thead>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<tr>\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\n<\/tr>\n<tr>\n<th class=\"c\" scope=\"col\">Debit<\/th>\n<th class=\"c\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>20&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Oct<\/th>\n<th class=\"l\" scope=\"row\">1<\/th>\n<th scope=\"row\"><em>Balance<\/em><\/th>\n<td class=\"c\">a<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">0.00<\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">7<\/td>\n<td><\/td>\n<td class=\"c\">GJ1<\/td>\n<td><\/td>\n<td class=\"r\">2,600.00<\/td>\n<td><\/td>\n<td class=\"r\">2,600.00<\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">26<\/td>\n<td><\/td>\n<td class=\"c\">GJ1<\/td>\n<td class=\"r\">1,000.00<\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">1,600.00<\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"fin-table gridded\">\n<caption class=\"u-clearfix\">\n<\/caption>\n<thead>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<tr>\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\n<\/tr>\n<tr>\n<th class=\"c\" scope=\"col\">Debit<\/th>\n<th class=\"c\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>20&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Oct<\/th>\n<th class=\"l\" scope=\"row\">1<\/th>\n<th scope=\"row\"><em>Balance<\/em><\/th>\n<td class=\"c\">a<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">0.00<\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"fin-table gridded\">\n<caption class=\"u-clearfix\">\n<\/caption>\n<thead>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<tr>\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\n<\/tr>\n<tr>\n<th class=\"c\" scope=\"col\">Debit<\/th>\n<th class=\"c\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>20&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Oct<\/th>\n<th class=\"l\" scope=\"row\">1<\/th>\n<th scope=\"row\"><em>Balance<\/em><\/th>\n<td class=\"c\">a<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">0.00<\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">1<\/td>\n<td><\/td>\n<td class=\"c\">GJ1<\/td>\n<td><\/td>\n<td class=\"r\">20,000.00<\/td>\n<td><\/td>\n<td class=\"r\">20,000.00<\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"fin-table gridded\">\n<caption class=\"u-clearfix\">\n<\/caption>\n<thead>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<tr>\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\n<\/tr>\n<tr>\n<th class=\"c\" scope=\"col\">Debit<\/th>\n<th class=\"c\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>20&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Oct<\/th>\n<th class=\"l\" scope=\"row\">1<\/th>\n<th scope=\"row\"><em>Balance<\/em><\/th>\n<td class=\"c\">a<\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">0.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">31<\/td>\n<td><\/td>\n<td class=\"c\">GJ2<\/td>\n<td class=\"r\">4,000.00<\/td>\n<td><\/td>\n<td class=\"r\">4,000.00<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"fin-table gridded\">\n<caption class=\"u-clearfix\">\n<\/caption>\n<thead>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<tr>\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\n<\/tr>\n<tr>\n<th class=\"c\" scope=\"col\">Debit<\/th>\n<th class=\"c\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>20&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Oct<\/th>\n<th class=\"l\" scope=\"row\">1<\/th>\n<th scope=\"row\"><em>Balance<\/em><\/th>\n<td class=\"c\">a<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">0.00<\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">15<\/td>\n<td><\/td>\n<td class=\"c\">GJ1<\/td>\n<td><\/td>\n<td class=\"r\">1,500.00<\/td>\n<td><\/td>\n<td class=\"r\">1,500.00<\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">20<\/td>\n<td><\/td>\n<td class=\"c\">GJ1<\/td>\n<td><\/td>\n<td class=\"r\">7,250.00<\/td>\n<td><\/td>\n<td class=\"r\">8,750.00<\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"fin-table gridded\">\n<caption class=\"u-clearfix\">\n<\/caption>\n<thead>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<tr>\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\n<\/tr>\n<tr>\n<th class=\"c\" scope=\"col\">Debit<\/th>\n<th class=\"c\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>20&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Oct<\/th>\n<th class=\"l\" scope=\"row\">1<\/th>\n<th scope=\"row\"><em>Balance<\/em><\/th>\n<td class=\"c\">a<\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">0.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">25<\/td>\n<td><\/td>\n<td class=\"c\">GJ1<\/td>\n<td class=\"r\">1,500.00<\/td>\n<td><\/td>\n<td class=\"r\">1,500.00<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"fin-table gridded\">\n<caption class=\"u-clearfix\">\n<\/caption>\n<thead>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<tr>\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\n<\/tr>\n<tr>\n<th class=\"c\" scope=\"col\">Debit<\/th>\n<th class=\"c\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>20&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Oct<\/th>\n<th class=\"l\" scope=\"row\">1<\/th>\n<th scope=\"row\"><em>Balance<\/em><\/th>\n<td class=\"c\">a<\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">0.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\"><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">0.00<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"fin-table gridded\">\n<caption class=\"u-clearfix\">\n<\/caption>\n<thead>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<tr>\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\n<\/tr>\n<tr>\n<th class=\"c\" scope=\"col\">Debit<\/th>\n<th class=\"c\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>20&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Oct<\/th>\n<th class=\"l\" scope=\"row\">1<\/th>\n<th scope=\"row\"><em>Balance<\/em><\/th>\n<td class=\"c\">a<\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">0.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\"><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">0.00<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"fin-table gridded\">\n<caption class=\"u-clearfix\">\n<\/caption>\n<thead>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<tr>\n<th class=\"c\" colspan=\"2\" rowspan=\"2\" scope=\"col\">Date<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Item<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Post. Ref.<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Debit<\/th>\n<th class=\"c\" rowspan=\"2\" scope=\"col\">Credit<\/th>\n<th class=\"c\" colspan=\"2\" scope=\"col\">Balance<\/th>\n<\/tr>\n<tr>\n<th class=\"c\" scope=\"col\">Debit<\/th>\n<th class=\"c\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>20&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Oct<\/th>\n<th class=\"l\" scope=\"row\">1<\/th>\n<th scope=\"row\"><em>Balance<\/em><\/th>\n<td class=\"c\">a<\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">0.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Oct<\/span><\/th>\n<td class=\"l\">25<\/td>\n<td><\/td>\n<td class=\"c\">GJ1<\/td>\n<td class=\"r\">1,100.00<\/td>\n<td><\/td>\n<td class=\"r\">1,100.00<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"8\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>When we wrote our journal entries, if we made sure that debits were equal to credits, and if we posted those journal entries exactly as they were writing, then it would be mathematically impossible for the total debits to not equal total credits in the ledger. There\u2019s an easy way to check this: run a trial balance.<\/p>\n<p>First, list all the ledger accounts.<\/p>\n<p>Put all the debit balances in one column, and all the credit balances in another, and compare the totals, like this:<\/p>\n<p>&nbsp;<\/p>\n<table class=\"fin-table gridded\">\n<caption>NeatNiks<br \/>\nTrial Balance (unadjusted)<br \/>\nFor the month ended October 31, 20XX<\/caption>\n<thead>\n<tr>\n<th scope=\"col\"><span class=\"u-sr-only\">Reference No.<\/span><\/th>\n<th scope=\"col\"><span class=\"u-sr-only\">Accounts<\/span><\/th>\n<th scope=\"col\">Debits<\/th>\n<th scope=\"col\">Credits<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>110<\/td>\n<td>Checking<\/td>\n<td class=\"r\">3,500.00<\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td>120<\/td>\n<td>Accounts Receivable<\/td>\n<td class=\"r\">5,650.00<\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td>125<\/td>\n<td>Supplies<\/td>\n<td class=\"r\">2,600.00<\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td>130<\/td>\n<td>Prepaid Rent<\/td>\n<td class=\"r\">12,000.00<\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td>210<\/td>\n<td>Account Payable<\/td>\n<td class=\"r\"><\/td>\n<td class=\"r\">1,600.00<\/td>\n<\/tr>\n<tr>\n<td>220<\/td>\n<td>Contractor Payable<\/td>\n<td class=\"r\"><\/td>\n<td class=\"r\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td>310<\/td>\n<td class=\"r\">Nick Frank, Capital Contributions<\/td>\n<td class=\"r\"><\/td>\n<td>20,000.00<\/td>\n<\/tr>\n<tr>\n<td>330<\/td>\n<td>Nick Frank, Withdrawals<\/td>\n<td class=\"r\">4,000.00<\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td>410<\/td>\n<td>Service Revenue<\/td>\n<td class=\"r\"><\/td>\n<td class=\"r\">8,750.00<\/td>\n<\/tr>\n<tr>\n<td>510<\/td>\n<td>Insurance Revenue<\/td>\n<td class=\"r\">1,500.00<\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td>520<\/td>\n<td>Rent Expense<\/td>\n<td class=\"r\">&#8211;<\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td>530<\/td>\n<td>Supplies Expense<\/td>\n<td class=\"r\">&#8211;<\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td>540<\/td>\n<td>Contractor Expense<\/td>\n<td class=\"r\">1,100.00<\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<\/tbody>\n<tfoot>\n<tr>\n<td><\/td>\n<td>Totals<\/td>\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single line<\/span> 30,350.00<br \/>\n<span class=\"u-sr-only\">Double line<\/span><\/td>\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single line<\/span> 30,350.00<br \/>\n<span class=\"u-sr-only\">Double line<\/span><\/td>\n<\/tr>\n<\/tfoot>\n<\/table>\n<p>Once you have determined that total debits equals total credits, you can start to look at the accuracy of individual accounts. The Trial Balance\u00a0tests the equality of debit and credits.\u00a0 Just because the trial balance is in balance, doesn\u2019t mean everything is correct. For instance, you could have posted a journal entry completely backward or left one out. In addition, we may need to make some additional journal entries. We should have a rent expense for October, some supplies expense, and we owe our independent contractors some payments too. We\u2019ll cover these adjusting journal entries in the next section, and then we\u2019ll be ready to produce some financial statements.<\/p>\n<div class=\"textbox tryit\">\n<h3>Practice Question<\/h3>\n<p>\t<iframe id=\"lumen_assessment_23377\" class=\"resizable\" src=\"https:\/\/assessments.lumenlearning.com\/assessments\/load?assessment_id=23377&#38;embed=1&#38;external_user_id=&#38;external_context_id=&#38;iframe_resize_id=lumen_assessment_23377\" frameborder=\"0\" style=\"border:none;width:100%;height:100%;min-height:400px;\"><br \/>\n\t<\/iframe><\/p>\n<p><iframe loading=\"lazy\" id=\"ohm208086\" class=\"resizable\" src=\"https:\/\/ohm.lumenlearning.com\/multiembedq.php?id=208086&theme=oea&iframe_resize_id=ohm208086&show_question_numbers\" width=\"100%\" height=\"150\"><\/iframe><\/p>\n<\/div>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-3006\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Preparing a Trial Balance. <strong>Authored by<\/strong>: Joseph Cooke. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":17,"menu_order":12,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Preparing a Trial Balance\",\"author\":\"Joseph Cooke\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-3006","chapter","type-chapter","status-publish","hentry"],"part":56,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/3006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/wp\/v2\/users\/17"}],"version-history":[{"count":17,"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/3006\/revisions"}],"predecessor-version":[{"id":6732,"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/3006\/revisions\/6732"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/pressbooks\/v2\/parts\/56"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/3006\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/wp\/v2\/media?parent=3006"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/pressbooks\/v2\/chapter-type?post=3006"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/wp\/v2\/contributor?post=3006"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/wp-json\/wp\/v2\/license?post=3006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}