The Colby group has the following unadjusted trial balance as of August 31st 2019. Debit balances Cash $25,460 Accounts receivable $45,570 Supplies $5,980 Prepaid insurance $6,440 Equipment $145,000 Terry Colby, drawing $31,600 Wages expense $286, 004 Rent expense $45,800 Advertise expense $15,300 Miscellaneous expense $15,300 Total $632,454 Credit balances Notes payable $60, 100 Accounts payable $12,930 Terry Colby, capital $92,930 Fees earned $477,100 Total $643,060 The debit and credit totals are not equal as a result of the following errors: A. The balance of cash was overstated by 13,000. B. A cash receipt of $8,300 was posted as a debit to cash of $3,800. C. A debit of $4,700 to accounts receivable was not posted. D.a return of $315 of defective supplies was erroneously posted as $351 credit to supplies. E. Insurance policy acquired at a cost of $1,000 was supposed to as a credit to prepaid insurance. F. The balance of notes payable was overstated by 12,000. G. A credit of $1,930 in accounts payable was overlooked when determining the balance of account. H. A debit of $3,404 withdrawal by the owner was supposed to as a debit to Terry Colby, capital. I. the balance of $13,500 in advertising expense was entered as $15,300 in the trial balance. J. Gas, electricity, and water expense, with a balance of $4,100 was omitted from The trial balance. Required: 1.prepare a corrected unadjusted trial balance as of August 31st 2019. For those boxes in which no entry is required leave the box blank.
The Colby group has the following unadjusted
Debit balances
Cash $25,460
Supplies $5,980
Prepaid insurance $6,440
Equipment $145,000
Terry Colby, drawing $31,600
Wages expense $286, 004
Rent expense $45,800
Advertise expense $15,300
Miscellaneous expense $15,300
Total $632,454
Credit balances
Notes payable $60, 100
Accounts payable $12,930
Terry Colby, capital $92,930
Fees earned $477,100
Total $643,060
The debit and credit totals are not equal as a result of the following errors:
A. The balance of cash was overstated by 13,000.
B. A cash receipt of $8,300 was posted as a debit to cash of $3,800.
C. A debit of $4,700 to accounts receivable was not posted.
D.a return of $315 of defective supplies was erroneously posted as $351 credit to supplies.
E. Insurance policy acquired at a cost of $1,000 was supposed to as a credit to prepaid insurance.
F. The balance of notes payable was overstated by 12,000.
G. A credit of $1,930 in accounts payable was overlooked when determining the balance of account.
H. A debit of $3,404 withdrawal by the owner was supposed to as a debit to Terry Colby, capital.
I. the balance of $13,500 in advertising expense was entered as $15,300 in the trial balance.
J. Gas, electricity, and water expense, with a balance of $4,100 was omitted from The trial balance.
Required:
1.prepare a corrected unadjusted trial balance as of August 31st 2019. For those boxes in which no entry is required leave the box blank.
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