Thread: How do I find consulting revenue?

Determine the balance of the Consulting Fees Account in the Trial Balance of Diligence Inc.as of December 31, 2008. All accounts have normal balances.
Retained Earnings $11,600 Unearned Rent $900
Prepaid Insurance 4,000 Store Supplies 1,500
Accounts Payable 8,000 Accounts Receivable 6,000
Dividends 1,400 Interest Revenue 1,700
Salaries Expense 2,600 Common Stock 10,000
Consulting Revenue ???? Buildings 22,000
Utilities Expense 700 Cash 3,000
a. $9,000
b. $13,000
c. $6,200
d. $16,800

My teacher told me to make a balance column with the debits and credits and whatever the difference is (the debit side should be greater) is what the revenue is. I tried doing this on excel and no luck. Any ideas?

Yeah, don't give up.
The problem is a straightforward one and you need to do these steps:
1. First they told you that each account has its "normal" balance so that tells you that the assets and expenses will be debits and the liabilities and equity and revenue will be credits. So you go to your accounting book and look up each account to see what it is (asset exp so on) then you put positive numbers for the debits and minus for the credits and the net of all that is your missing number.
Watch out for "dividends" as it is a contra-equity acct (so it is a normal debit).
Then post your answer here and we can double-check for you. OK?