Trial Balance The accounts in the ledger of Hickory Furniture Company as of December 31, 2019, 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 Accounts Receivable 116,900 Cash ? Elaine Wells, Capital 75,000 Elaine Wells, Drawing 24,000 Fees Earned 745,230 Insurance Expense 3,600 Land 50,000 Miscellaneous Expense 9,500 Notes Payable 50,000 Prepaid Insurance 21,600 Rent Expense 48,000 Supplies 4,275 Supplies Expense 6,255 Unearned Rent 12,000 Utilities Expense 26,850 Wages Expense 580,700   Prepare an unadjusted trial balance, listing the accounts in their normal order and inserting the missing figure for cash. For those boxes in which no entry is required, leave the box blank.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Trial Balance

The accounts in the ledger of Hickory Furniture Company as of December 31, 2019, 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
Accounts Receivable 116,900
Cash ?
Elaine Wells, Capital 75,000
Elaine Wells, Drawing 24,000
Fees Earned 745,230
Insurance Expense 3,600
Land 50,000
Miscellaneous Expense 9,500
Notes Payable 50,000
Prepaid Insurance 21,600
Rent Expense 48,000
Supplies 4,275
Supplies Expense 6,255
Unearned Rent 12,000
Utilities Expense 26,850
Wages Expense 580,700

 

Prepare an unadjusted trial balance, listing the accounts in their normal order and inserting the missing figure for cash. For those boxes in which no entry is required, leave the box blank.

Expert Solution
Step 1

The correct order of accounts in an Unadjusted trial balance is as follows - 

Assets, Liabilities, Owner's Equity, Revenues, Expenses

 

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