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When the ledger and other records are reviewed, you discover the following: (1) the debits and credits in the cash account total $49,270 and $35,380, respectively; (2) billing of $2,610 to a customer on account was not posted to the accounts receivable account; (3) a payment of $1,870 made to a creditor on account was not posted to the accounts payable account; (4) the balance of the unearned rent account is $5,380; (5) the correct balance of the equipment account is $78,000; and (6) each accour has a normal balance. Prepare a corrected unadjusted trial balance. If an amount box does not require an entry, leave it blank. Ranger Ticket Agency Unadjusted Trial Balance August 31, 20Y1 Line Item Description Cash Accounts Receivable Prepaid Insurance Equipment Accounts Payable Unearned Rent Kia Eichert, Capital Kia Eichert, Drawing Service Revenue Wages Expense Advertising Expense Miscellaneous Expense Total Debit Credit Balances Balances ☐☐☐☐☐☐

When the ledger and other records are reviewed, you discover the following: (1) the debits and credits in the cash account total $49,270 and $35,380, respectively; (2) billing of $2,610 to a customer on account was not posted to the accounts receivable account; (3) a payment of $1,870 made to a creditor on account was not posted to the accounts payable account; (4) the balance of the unearned rent account is $5,380; (5) the correct balance of the equipment account is $78,000; and (6) each accour has a normal balance. Prepare a corrected unadjusted trial balance. If an amount box does not require an entry, leave it blank. Ranger Ticket Agency Unadjusted Trial Balance August 31, 20Y1 Line Item Description Cash Accounts Receivable Prepaid Insurance Equipment Accounts Payable Unearned Rent Kia Eichert, Capital Kia Eichert, Drawing Service Revenue Wages Expense Advertising Expense Miscellaneous Expense Total Debit Credit Balances Balances ☐☐☐☐☐☐

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Errors in trial balance The following preliminary unadjusted trial balance of Ranger Ticket Agency does not balance: Cash Accounts Receivable Prepaid Insurance Equipment Accounts Payable Unearned Rent Kia Eichert, Capital Kia Eichert, Drawing Service Revenue Wages Expense Advertising Expense Miscellaneous Expense Totals Ranger Ticket Agency Unadjusted Trial Balance August 31, 20Y1 Debit Balances 49,270 23,160 7,800 84,740 10,300 7,490 182,760 Credit Balances 8,330 13,500 3,010 87,210 43,700 1,480 157,230
Transcribed Image Text:Errors in trial balance The following preliminary unadjusted trial balance of Ranger Ticket Agency does not balance: Cash Accounts Receivable Prepaid Insurance Equipment Accounts Payable Unearned Rent Kia Eichert, Capital Kia Eichert, Drawing Service Revenue Wages Expense Advertising Expense Miscellaneous Expense Totals Ranger Ticket Agency Unadjusted Trial Balance August 31, 20Y1 Debit Balances 49,270 23,160 7,800 84,740 10,300 7,490 182,760 Credit Balances 8,330 13,500 3,010 87,210 43,700 1,480 157,230
When the ledger and other records are reviewed, you discover the following: (1) the debits and credits in the cash account total $49,270 and $35,380, respectively; (2) billing of $2,610 to a customer on account was not posted to the accounts receivable account; (3) a payment of $1,870 made to a creditor on account was not posted to the accounts payable account; (4) the balance of the unearned rent account is $5,380; (5) the correct balance of the equipment account is $78,000; and (6) each accou has a normal balance. Prepare a corrected unadjusted trial balance. If an amount box does not require an entry, leave it blank. Ranger Ticket Agency Unadjusted Trial Balance August 31, 20Y1 Line Item Description Cash Accounts Receivable Prepaid Insurance Equipment Accounts Payable Unearned Rent Kia Eichert, Capital Kia Eichert, Drawing Service Revenue Wages Expense Advertising Expense Miscellaneous Expense Total Debit Credit Balances Balances
Transcribed Image Text:When the ledger and other records are reviewed, you discover the following: (1) the debits and credits in the cash account total $49,270 and $35,380, respectively; (2) billing of $2,610 to a customer on account was not posted to the accounts receivable account; (3) a payment of $1,870 made to a creditor on account was not posted to the accounts payable account; (4) the balance of the unearned rent account is $5,380; (5) the correct balance of the equipment account is $78,000; and (6) each accou has a normal balance. Prepare a corrected unadjusted trial balance. If an amount box does not require an entry, leave it blank. Ranger Ticket Agency Unadjusted Trial Balance August 31, 20Y1 Line Item Description Cash Accounts Receivable Prepaid Insurance Equipment Accounts Payable Unearned Rent Kia Eichert, Capital Kia Eichert, Drawing Service Revenue Wages Expense Advertising Expense Miscellaneous Expense Total Debit Credit Balances Balances
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