Bundle: Financial & Managerial Accounting, 14th + Working Papers for Warren/Reeve/Duchac's Corporate Financial Accounting, 14th + Working Papers, ... & Managerial Accounting, 14th + CengageNOWv2,
14th Edition
ISBN: 9781337804011
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, 2018 | |||
| Debit Balances | Credit Balances | ||
| Cash | 77,600 | ||
| Accounts Receivable | 37,750 | ||
| Prepaid Insurance | 12,000 | ||
| Equipment | 19,000 | ||
| 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 hilling 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;
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Chapter 2 Solutions
Bundle: Financial & Managerial Accounting, 14th + Working Papers for Warren/Reeve/Duchac's Corporate Financial Accounting, 14th + Working Papers, ... & Managerial Accounting, 14th + CengageNOWv2,
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