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Performance Task #8 Preparation of Trial Balance

The document provides the trial balance for Covi Repair Shop as of December 31, 2020, listing account balances for assets, liabilities, equity, revenues, and expenses that total to $34,350 in debits and $34,350 in credits. The trial balance was prepared following the steps discussed in Module 8 to check the equality of debits and credits after recording transactions in the general journal for the accounting period.

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131 views2 pages

Performance Task #8 Preparation of Trial Balance

The document provides the trial balance for Covi Repair Shop as of December 31, 2020, listing account balances for assets, liabilities, equity, revenues, and expenses that total to $34,350 in debits and $34,350 in credits. The trial balance was prepared following the steps discussed in Module 8 to check the equality of debits and credits after recording transactions in the general journal for the accounting period.

Uploaded by

tine
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Performance Task #8 Preparation of Trial Balance

Prepare the December 31, 2020 trial balance of Covi Repair Shop. These are the accounts used with
their corresponding account balances. Follow the steps in preparing the trial balance as discussed in
Module 8. (35pts.)

Rent Expense Ᵽ1,000

Covi, Capital 25,200

Service Income 5,900

Accounts Receivable 1,200

Repair Supplies 1,500

Repair Tools 1,200

Utility Expense 150

Advertising Expense 250

Salaries and Wages 900

Service Truck 20,000

Furniture and Fixtures 6,500

Notes Payable 3,250

Covi, Drawings 750

Cash 900

Covi Repair Shop


Trial Balance
December 31, 2020
Debit Credit

110 Cash 900


120 Accounts Receivable 1,200

130 Repair Tools 1,200

140 Repair Supplies 1,500

150 Furniture and Fixtures 6,500

160 Service Truck 20,000

220 Notes Payable 3,250

310 Covi, Capital 25,200

320 Covi, Drawings 750

410 Service Income 5,900

510 Advertising Expense 250

520 Salaries and Wages 900

530 Utility Expense 150

540 Rent Expense 1,000

TOTAL 34,350 34,350

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