Trial balance The accounts in the ledger of Hickory Furniture Company as of December 31, 2016, are listed in alphabetical order as follows. All accounts have normal balances. The balance of the cash account has been intentionally omitted. Accounts Payable $ 42,770 Notes Payable $ 50,000 Accounts Receivable 116,900 Prepaid Insurance 21,600 Cash 7 Rent Expense 48,000 Common Stock 15,000 Retained Earnings 60,000 Dividends 24,000 Supplies 4,275 Fees Earned 745,230 Supplies Expense 6,255 Insurance Expense 3,600 Unearned Rent 12,000 Land 50,000 Utilities Expense 26,850 Miscellaneous Expense 9,500 Wages Expense 580,700 Prepare an unadjusted trial balance, listing the accounts in their normal order and inserting the missing figure for cash.

BuyFind

Financial & Managerial Accounting

13th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781285866307
BuyFind

Financial & Managerial Accounting

13th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781285866307

Solutions

Chapter
Section
Chapter 2, Problem 2.16EX
Textbook Problem

Trial balance

The accounts in the ledger of Hickory Furniture Company as of December 31, 2016, are listed in alphabetical order as follows. All accounts have normal balances. The balance of the cash account has been intentionally omitted.

Accounts Payable $ 42,770 Notes Payable $ 50,000
Accounts Receivable 116,900 Prepaid Insurance 21,600
Cash 7 Rent Expense 48,000
Common Stock 15,000 Retained Earnings 60,000
Dividends 24,000 Supplies 4,275
Fees Earned 745,230 Supplies Expense 6,255
Insurance Expense 3,600 Unearned Rent 12,000
Land 50,000 Utilities Expense 26,850
Miscellaneous Expense 9,500 Wages Expense 580,700

Prepare an unadjusted trial balance, listing the accounts in their normal order and inserting the missing figure for cash.

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Chapter 2 Solutions

Financial & Managerial Accounting
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