Cash 42,900 Accounts Receivable 123,500 Prepaid Insurance 27,000 Equipment 300,000 Accounts Payable 52,000 Salaries Payable 4,800 Common Stock 40,000 Retained Earnings 137,200 Dividends 5,000 Service Revenue 1,216,000 Salary Expense 660,000 Advertising Expense 275,000 Miscellaneous Expense 16,600 1,801,500 1,801,500 After identifying the errors, prepare a corrected unadjusted trial balance. For those boxes in which no entry is required, leave the box blank.

Question

Pork Chop

Business

17 November, 11:25

Cash 42,900 Accounts Receivable 123,500 Prepaid Insurance 27,000 Equipment 300,000 Accounts Payable 52,000 Salaries Payable 4,800 Common Stock 40,000 Retained Earnings 137,200 Dividends 5,000 Service Revenue 1,216,000 Salary Expense 660,000 Advertising Expense 275,000 Miscellaneous Expense 16,600 1,801,500 1,801,500 After identifying the errors, prepare a corrected unadjusted trial balance. For those boxes in which no entry is required, leave the box blank.

+1

Answers (1)

Know the Answer?

Braedon Bradley · Answer 1

Answer and Explanation:

The preparation of the corrected unadjusted trial balance is presented below:

Ensemble Co

Unadjusted Trial Balance

For the Year Ending December 31, 2018

Particulars Debit Credit

Cash $42,900

Accounts receivable $123,500

Prepaid insurance $27,000

Equipment $300,000

Accounts payable $52,000

Salaries payable $4,800

Common stock $40,000

Retained earnings $137,200

Dividends $5,000

Service revenue $1,216,000

Salary expense $660,000

Advertising expense $275,000

Miscellaneous expense $16,600

Total $,450,000 $1,450,000

We simply debited the assets, dividend and expenses account and credited the revenues, liabilities and stockholder equity account