The Following Is a List of Accounts and Their Balances

question 48

Essay

The following is a list of accounts and their balances for Benson Company for the month ended June 30,20xx.Prepare a trial balance in good form.
$$\begin{array} { l r l r } \text { Cash } & \$ 1,870 & \text { Benson, Withdrawals } & \$ 500 \\\text { Accounts Payable } & 1,270 & \text { Accounts Receivable } & 1,100 \\\text { Office Equipment } & 900 & \text { Service Fees Earned } & 2,230 \\\text { Benson, Capital } & 1,500 & \text { Salaries Expense } & 630\end{array}$$

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Definitions:

Big Bank

A big bank refers to a large, multinational banking institution that offers a wide range of financial services, often with significant influence in economic policies and markets.

Forger

An individual who commits fraud by creating or altering a document with the intent to deceive.

Negotiable Instrument

A signed document containing an unconditional promise or order to pay a specified sum of money to a designated person or to the bearer of the document.

Maker

In terms of financial instruments like checks or promissory notes, the maker is the party that promises to pay a certain amount of money.