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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.

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  1. 17 November, 11:33
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    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
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