Bundle: Financial & Managerial Accounting, Loose-leaf Version, 13th + CengageNOWv2, 1 term (6 months) Printed Access Card Corporate Financial ... Access Card for Managerial Accounting, 13th
13th Edition
ISBN: 9781305781429
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter 2, Problem 2.18EX
Errors in
The following preliminary unadjusted trial balance of Ranger Co., a sports ticket agency, does not balance:
| Ranger Co. Unadjusted Trial Balance August 31,2016 |
||
| Debit Balances | Credit Balances | |
| 77,600 | ||
| Accounts Receivable | 37,750 | |
| Prepaid Insurance | 12,000 | |
| Equipment | 1,000 | |
| Accounts Payable | 29,100 | |
| Unearned Rent | 10,800 | |
| Common Stock | 40,000 | |
| 70,000 | ||
| Dividends | 13,000 | |
| Service Revenue | 385,000 | |
| Wages Expense | 213,000 | |
| Advertising Expense | 16,350 | |
| Miscellaneous Expense | 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.
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The trial balance of Gagne Company shown below does not balance
GAGNE COMPANY
Trial Balance
June 30, 2008
Debit Credit
Cash $2,600
Accounts receivable 7,600
Supplies 600
Equipment 8,300
Accounts Payable $9,766
Gagne, Capital 1,952
Gagne, Drawing 1,500
Service Revenue 15,200
Wage Expense 3,800
Repair Expense 1,600
__Total $26,000 $26,918
As examination of the ledger and journal reveals the following errors:
Each of the above listed accounts has a normal balance per the general ledger
Cash of $360…
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View transaction list
Journal entry worksheet
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Chapter 2 Solutions
Bundle: Financial & Managerial Accounting, Loose-leaf Version, 13th + CengageNOWv2, 1 term (6 months) Printed Access Card Corporate Financial ... Access Card for Managerial Accounting, 13th
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