The following preliminary unadjusted trial balance of Ranger Co., a sports ticket agency, does not balance: Ranger Co. Unadjusted Trial Balance August 31, 2019 Debit Balances Credit Balances Cash 77,600 Accounts Receivable.. Prepaid Insurance Equipment.... Accounts Payable 37,750 12,000 19,000 29,100 Unearned Rent.. Carmen Meeks, Capital Carmen Meeks, Drawing 10,800 110,000 13,000 Fees Earned 385,000 Wages Expense Advertising Expense... Miscellaneous Expense 213,000 16,350 18,400 273,700 668,300 When the ledger and other records are reviewed, you discover the following: (1) the debits and credits in the cash account total $77,600 and $62,100, respectively; (2) a billing of $9,000 to a customer on account was not posted to the accounts receivable account; (3) a payment of $4,500 made to a creditor on account was not posted to the accounts payable account; (4) the balance of the unearned rent account is $5,400; (5) the correct balance of the equipment account is $190,000; and (6) each account has a normal balance Prepare a corrected unadjusted trial balance.
The following preliminary unadjusted trial balance of Ranger Co., a sports ticket agency, does not balance: Ranger Co. Unadjusted Trial Balance August 31, 2019 Debit Balances Credit Balances Cash 77,600 Accounts Receivable.. Prepaid Insurance Equipment.... Accounts Payable 37,750 12,000 19,000 29,100 Unearned Rent.. Carmen Meeks, Capital Carmen Meeks, Drawing 10,800 110,000 13,000 Fees Earned 385,000 Wages Expense Advertising Expense... Miscellaneous Expense 213,000 16,350 18,400 273,700 668,300 When the ledger and other records are reviewed, you discover the following: (1) the debits and credits in the cash account total $77,600 and $62,100, respectively; (2) a billing of $9,000 to a customer on account was not posted to the accounts receivable account; (3) a payment of $4,500 made to a creditor on account was not posted to the accounts payable account; (4) the balance of the unearned rent account is $5,400; (5) the correct balance of the equipment account is $190,000; and (6) each account has a normal balance Prepare a corrected unadjusted trial balance.
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter4: Completing The Accounting Cycle
Section: Chapter Questions
Problem 4PB: The unadjusted trial balance of Recessive Interiors at January 31, 2019, the end of the year,...
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