Prepare a Corrected Trial Balance for Stereolab Company

question 110

Essay

Prepare a corrected trial balance for Stereolab Company. All accounts should have a normal balance. $\begin{array}{c}\text {STEROELAB COMPANY}\\\text {Trial Balance}\\\text {For the Quarter Ended 3/31/18}\\\\\begin{array}{lrr}& \underline{\text {Debit}}& \underline{\text {Credit}}\\\text { Cash } & \$ 14,000 & \\\text { Accounts Receivable } &&\$23,000 \\\text { Prepaid Insurance } &2,500 & \\\text { Equipment } &60,000 & \\\text { Accounts Payable }& & 15,000\\\text { Unearned Service Revenue } &10,000 & \\\text { Notes Payable } & &25,000\\\text { Common stock } & &38,000\\\text { Dividends } &&1,500 \\\text { Service Revenue }& &43,000 \\\text { Salaries and Wages Expense } &15,000\\\text { Utilities Expense } &5,000& \\\text { Rent Expense } & \underline{10,000 }& \\& \underline{\$ 116,500} & \underline{\$ 145,500}\end{array}\end{array}$

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Definitions:

Managed-Care Organizations

Health insurance groups that provide healthcare services to their members through specific networks of doctors and hospitals under a fixed budget.

Control Health Care Costs

Efforts and measures taken to manage and reduce the expenses associated with health care services and treatments.

Two Main Types

Often refers to the classification of something into two broad, distinct categories; the specific context (e.g., of products, economic systems) defines what these are.

Health Care Coverage

Insurance or governmental support that helps cover the cost of medical care for individuals and families.