Airmail 2.0 trial balance

A trial balance is a list of all general ledger accounts and their corresponding debit or credit balances. Here is a sample trial balance for Airmail 2.0:

Debit Column

  1. Cash ($10,000)
  2. Accounts Receivable ($5,000)
  3. Inventory ($8,000)
  4. Prepaid Rent ($2,000)
  5. Equipment ($15,000)
  6. Accumulated Depreciation ($3,000)
  7. Salaries Expense ($8,000)
  8. Rent Expense ($2,000)
  9. Utilities Expense ($1,000)
  10. Insurance Expense ($500)
  11. Total Debits ($41,500)

Credit Column

  1. Accounts Payable ($3,000)
  2. Notes Payable ($5,000)
  3. Accrued Salaries ($2,000)
  4. Accrued Rent ($1,000)
  5. Utilities Payable ($500)
  6. Insurance Payable ($200)
  7. Sales Revenue ($20,000)
  8. Cost of Goods Sold ($12,000)
  9. Gross Profit ($8,000)
  10. Operating Expenses ($10,000)
  11. Net Income ($2,000)
  12. Total Credits ($41,500)

The trial balance shows that the total debits equal the total credits, which is a necessary condition for the accounting equation to be in balance. The trial balance is used as a starting point for preparing financial statements, such as the balance sheet and income statement.

Note: The amounts in this trial balance are fictional and for demonstration purposes only.