Floor coverings reported the following summarized data at december 31, 2018. accounts appear in no particular order, and all have normal balances. prepare the trial balance of smith floor coverings at december 31, 2018.
service revenue %38,000
equipment 45,000
rent expenses 10,000
common stock 25,000
account payable 1,500
dividens 12,900
salaries payable 15,000
salaries expenses 1,800
cash 12,000
accont receivable 4,000
interest payable 7,500
utility expanse 1,300

Cash                        12,000   debit

Accont receivable    4,000   debit

Equipment              45,000    debit

Account payable                                 1,500  credit

Salaries payable                                15,000  credit

Interest payable                                  7,500   credit

Common stock                                 25,000   credit

Dividens                 12,900    debit

Service revenue                               38,000   credit

Salaries expenses   1,800     debit

Utility expanse         1,300   debit

Rent expenses     10,000   debit                

Total                      87,000                87,000  credit

Explanation:

Assets and expenses account will have a debit balance

Dividends will also have a debit balance

Then liabilities (payable) accounts, equity accounts (common stock) and revenues account have a credit balance

With this in mind we arrenge the accounts and create the trial balance.

Last, we add each column. This is to make sure it is correct, debit = credit

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