(Learning Objective 6: Construct and use a trial balance) The accounts of Lake Oaks Pool Service, Inc., follow with their normal balances at April 30, 2014. The accounts are listed in no particular order.
account balance account balance
dividends $3,500 common stock $16,800
utilities expense $1,800 accounts payable 4,800
accounts receivable 5,300 service revenue 20,910
delivery expense 450 equipment 29,200
retained earnings 4700 note payable 21,500
salary expense 8700 cash 19,760
Requirements
Prepare the company’s trial balance at April 30, 2014, listing accounts in proper sequence, as illustrated in the chapter. For example, Accounts Receivable comes before Equipment. List the expense with the largest balance first, the expense with the next largest balance second, and so on.
Prepare the financial statement for the month ended April 30, 2014, that will tell the company the results of operations for the month.