
Errors in
The following preliminary unadjusted trial balance of Ranger Co., a sports ticket agency, does not balance:
Ranger co. unadjusted Trail Balance August 31, 2019 |
||
Debit balances | Credit Balances | |
Cash | 77,600 | |
37,750 | ||
Prepaid insurance | 12,000 | |
Equipment | 19,000 | |
Accounts payable | 29,100 | |
Unearned Rent | 10,800 | |
Carmen Meeks, Capital | 110,000 | |
Carmen Meeks, Drawing | 13,000 | |
Fees Earned | 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 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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Chapter 2 Solutions
Custom Bundle: Accounting, Loose-leaf Version, 26th + Working Papers, Chapters 1-17, 26th Edition
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