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Required information The following information applies to the questions displayed below.) Y1 Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May accounts with normal balances included his initial Investment of $24,500 cash. After those seven transactions, the ledger included the following Cash office supplies Prepaid insurance office equipment Accounts payable Y. Min, Capital Y. Min, Withdrawals 3,479 Engineering fees earned Rent expense $47,791 1,190 4,700 13,100 13,100 24, 500 42,000 9,340 seven transactions oroduced the account balances shown a Prev 3.. of.3
Expert Answer
Min Engineering
Trial Balance
May 31
| Particulers | Debit ($) | Credit ($) |
| Cash | 47791 | |
| Office Supplies | 1190 | |
| Prepaid Insurance | 4700 | |
| Office equipment | 13100 | |
| Accounts Payable | 13100 | |
| Common stock | 24500 | |
| Withdrawals | 3479 | |
| Engineering fees earned | 42000 | |
| Rent expense | 9340 | |
| Total | 79600 | 79600 |
2).
Cash Account
| Particular | Amount ($) | Particular | Amount ($) |
| A. Own Investment | 24500 | B. Rent | 9340 |
| F. Engineering fees | 42000 | C. Insurence Premium | 4700 |
| D Office Supplies | 1190 | ||
| G. Drawings | 3479 | ||
| H. Closing Balance | 47791 | ||
| Total | 66500 | Total | 66500 |
