Table 2-1
the Following Is a List of the Accounts

question 1

Essay

Table 2-1
The following is a list of the accounts and their balances appearing in the ledger of Henry Garage Repairs as of December 31, 2019, the company's year end. The accounts are in alphabetical order and have normal balances. $$\begin{array} { l r } \text { Accounts payable } & \$ 450 \\\text { Accounts receivable } & 1,250 \\\text { Cash } & 400 \\\text { Equipment } & 12,600 \\\text { Gasoline expense } & 600 \\\text { Ian Henry, Capital } & 6,600 \\\text { Ian Henry, Withdrawals } & 500 \\\text { Notes payable } & 11,000 \\\text { Rent expense } & 1,200 \\\text { Repairs expense } & 650 \\\text { Salary expense } & 700 \\\text { Salary payable } & 100 \\\text { Service revenue } & 8,250 \\\text { Supplies } & 200 \\\text { Supplies expense } & 300 \\\text { Truck } & 8,000\end{array}$$
-Refer to Table 2-1. Prepare a trial balance for Henry Garage Repairs at December 31, 2019

---

Definitions:

External Failure Costs

Costs incurred when a product or service fails to reach quality standards after being delivered to the customer, including returns, repairs, and lost sales.

Defective Products

Items produced that do not meet the quality standards set by the company or industry, resulting in waste or rework.

Services

Intangible economic activities provided to satisfy the needs or wants of consumers, such as healthcare, education, and financial advice.

Design Specifications

Detailed descriptions of the materials, parts, and components necessary to create a product, including the requirements for manufacturing, service, and quality.