The following preliminary unadjusted trial balance of Ranger Co., sports ticket agency, Errors in trial balance
Ranger Co. Unadjusted
Trial Balance
August 31, 2014
Debit balance Credit Balances
Cash 77600
Accounts Receivable. 377500
Prepaid Insurance 12000
Equipment.. 19000
Accounts Payable 29100
Unearned Rent..... 10800
Carmen Meeks, Capital 110000
Carmen Meeks, Drawing. 13,000
Service Revenue 385000
Wages 213000
Expense
Advertising Expense.. 16350
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.

Question

bjorn9776 bjorn9776

15-02-2021
Business

contestada

The following preliminary unadjusted trial balance of Ranger Co., sports ticket agency, Errors in trial balance
Ranger Co. Unadjusted
Trial Balance
August 31, 2014
Debit balance Credit Balances
Cash 77600
Accounts Receivable. 377500
Prepaid Insurance 12000
Equipment.. 19000
Accounts Payable 29100
Unearned Rent..... 10800
Carmen Meeks, Capital 110000
Carmen Meeks, Drawing. 13,000
Service Revenue 385000
Wages 213000
Expense
Advertising Expense.. 16350
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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andromache andromache · Answer 1 · 2021-02-16T02:18:59+01:00

Answer and Explanation:

The preparation of the corrected un-adjusted trial balance is presented below:

Particulars Dr Amount Cr Amount

Cash $15,500

Accounts Receivable $46,750

Prepaid Insurance $12,000

Equipment $190,000

Accounts payable $24,600

Unearned rent $5,400

Common stock $40,000

Retained Earnings $70,000

Dividends $13,000

Service Revenue $385,000

Wages expense $213,000

Advertising expense $16,350

Miscellaneous expense $18,400

Total $525,000 $525000

Sam1s Sam1s · Answer 2 · 2022-02-11T15:48:33+01:00

The corrected un-adjusted trial balance is presented below:

"Ranger Co. Unadjusted Trial Balance on August 31, 2014"