[pandabear85]

I was given the following information:

-For the fiscal year of 2011
Jan-1 Acquired additional $20,000 by issuing common stock.
Jan-1 Company purchased computer for $15,000. No salvage value and 3 year estimated useful life.
March-1 Company borrowed $10,000 by issuing a one-year note at 12%.
May-1 Company paid $2,400 cash in advance for one year of rent.
June-1 Company made $5,000 distribution to shareholders.
July-1 Company purchased land for $10,000.
August-1 Cash payments on accounts payable amounted to $6,000.
August-1 $9,600 cash in advance for 12 months of service to be performed monthly for the next year.
September-1 Sold land for $13,000. Bought the land originally for $13,000.
October-1 Company purchased $1,300 in supplies on account.
November-1 Purchased 1 year, $20,000 certificate of deposit at 6%.
December- 31 Earned $40,000 worth of service revenue on account.
December-31 Cash collections from accounts receivable amount to $44,000.
December-31 The company incurred other operating expenses on account that amounted to $6,000.
December-31 $2,300 worth of salaries had been earned but not paid out.
December-31 Supplies worth $200 were on hand at the end of the period.

I made the attached journal entry (which I believe to be correct). I'm not creating a correct trial balance though. Can someone please help or tell me what I am doing wrong. I'm terribly confused.
Many thanks.

[pready]

From the information you provided there is no starting account balances. Your Accounts Payable account balance will be incorrect because of your Aug 1 Transaction will reduce your Accounts Payable account balance

[pandabear85]

Oh, I wasn't sure if that information was applicable. The beginning balances are the following:

Cash $40,000
Accounts Receivable $16,500
Land $20,000
Accounts Payable $17,000
Common Stock $45,000
Retained Earnings $14,500

[pready]

Your Debits and Credits should equal 154,700

See attached Excel file (97-2003 format) for the check figures of all the accounts.