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Copyright 2006 Money Instructor
Name__________________________ Date_________________
Student Worksheet - Trial Balance and Financial Statement
Preparation
1. A ________________ proves the equality of the debit and credit
balances of all the accounts in the ______________ .
2. When a balance sheet is prepared with the three sections vertical to one another it is
called the ____________ form.
3. When the balance sheet is prepared with assets on the left and liabilities and equity on
the right, it is called the ______________ form.
4. Using the following list of month end account balances for Brad’s Graphic Arts on
October 31, 2005, prepare a trial balance, an income statement and a balance sheet in
report form for them.
Accounts Payable $ 4,800
Cash 7,300
Salaries Expense 2,500
Bank Loan 5,500
Services Revenue 18,500
Rent Expense 3,300
Common Stock 15,000
Telephone expense 1,800
Accounts Receivable 5,600
Utilities Expense 1,200
Furniture and Fixtures 6,300
Equipment 10,200
Office Supplies 1,300
Office Supplies Used 4,300