Answered: Ranger Co. Unadjusted Trial Balance…

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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Question

The following preliminary unadjusted trial balance of Ranger Co., a
sports ticket agency, does not balance:

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

Ranger Co.
Unadjusted Trial Balance
August 31, 2019
Debit
Balances
Credit
Balances
Cash ...
600,ר7
37,750
Accounts Receivable..
Prepaid Insurance .
Equipment.....
Accounts Payable .
12,000
19,000
29,100
Unearned Rent....
10,800
Carmen Meeks, Capital
Carmen Meeks, Drawing..
Fees Earned
110,000
13,000
385,000
213,000
Wages Expense
Advertising Expense..
Miscellaneous Expense .
16,350
273,700
18,400
668,300

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