The Ledger Accounts of the Fabulous Muscles Gym at June

question 165

Essay

The ledger accounts of the Fabulous Muscles Gym at June 30, 2018 are shown below: $\begin{array}{lr}\text { Accounts Payable } & \$ 9,100 \\\text { Accounts Receivable } & 1,050 \\\text { Buildings } & 43,000 \\\text { Cash } & 14,100 \\\text { Common Stock } & 62,800 \\\text { Dividends } & 10,500 \\\text { Equipment } & 42,900 \\\text { Notes Payable } & 40,000 \\\text { Supplies } & 350\end{array}$
Instructions
Prepare a trial balance with the ledger accounts arranged in the proper financial statement order. Include the appropriate heading.

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Definitions:

Comparable Units

Units or measures that are similar enough in key aspects to be used in comparisons or evaluations.

Certificates of Deposit

A savings certificate with a fixed maturity date and specified fixed interest rate that is issued by banks and is insured by the Federal Deposit Insurance Corporation (FDIC) up to a certain amount.