Floor Coverings reported the following summarized data at December 31, 2018. Accounts appear in no particular order, and all have normal balances. Prepare the trial balance of Smith Floor Coverings at December 31, 2018.

Service revenue %38,000

Equipment 45,000

Rent expenses 10,000

Common stock 25,000

Account payable 1,500

Dividens 12,900

Salaries payable 15,000

Salaries expenses 1,800

Cash 12,000

Accont receivable 4,000

Interest payable 7,500

Utility expanse 1,300

Cash 12,000 debit

Accont receivable 4,000 debit

Equipment 45,000 debit

Account payable 1,500 credit

Salaries payable 15,000 credit

Interest payable 7,500 credit

Common stock 25,000 credit

Dividens 12,900 debit

Service revenue 38,000 credit

Salaries expenses 1,800 debit

Utility expanse 1,300 debit

Rent expenses 10,000 debit

Total 87,000 87,000 credit

Explanation:

Assets and expenses account will have a debit balance

Dividends will also have a debit balance

Then liabilities (payable) accounts, equity accounts (common stock) and revenues account have a credit balance

With this in mind we arrenge the accounts and create the trial balance.

Last, we add each column. This is to make sure it is correct, debit = credit