An inexperienced bookkeeper prepared the following trial balance. Prepare a correct trial balance,…

 
   

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An inexperienced bookkeeper prepared the following trial balance. Prepare a correct trial balance, assuming all account balances are normal.

KWUN COMPANY
Trial Balance
December 31, 2010

Debit

Credit

Cash

$14,800

Prepaid Insurance

$3,500

Accounts Payable

3,000

Unearned Revenue

2,200

P. Kwun, Capital

13,000

P. Kwun, Drawing

4,500

Service Revenue

25,600

Salaries Expense

18,600

Rent Expense

2,400

$35,600

$52,000