how le ow The accounts in the ledger of Hickory Furniture Company as of December

Question

how le ow The accounts in the ledger of Hickory Furniture Company as of December 31, 2019, ar listed in alphabetical order as follows. All accounts have normal balances. The bala the cash account has been intentionally omitted. EX 2-16 Trial balance ance of dit $50,000 $ 42,770 Notes Payable Accounts Payable Accounts Receivable Cash Elaine Wells, Capital Elaine Wells, Drawing Fees Earned Insurance Expense Land Miscellaneous Expense 116,900 Prepaid Insurance 21,600 48,000 4,275 6,255 12,000 26,850 ? Rent Expense 75,000 Supplies 24,000 Supplies Expense 745,230 Unearned Rent Utilities Expense 580,700 50,000 Wages Expense 9,500 Prepare an unadjusted trial balance, listing the accounts in their normal order and insert ing the missing figure for cash.

Explanation / Answer

workings

Unadjusted trial Balance Number Accounts Title Debit Credit 1 Cash 33,320 2 Accounts Receivable 116,900 3 Supplies 4,275 4 Prepaid Insurance 21,600 5 Land 50,000 6 Accounts Payable 42,770 7 Unearned Rent 12,000 8 Notes Payable $50,000 9 Elaine Wells, Capital 75,000 10 Elaine Wells, Drawing 24,000 11 Fees Earned 745,230 12 Wages Expense 580,700 13 Rent Expense 48,000 14 Utilities Expense 26,850 15 Supplies Expense 6,255 16 Insurance Expense 3,600 17 Miscellaneous Expense 9,500 Total 925,000 925,000

workings

Balance before cash 891,680 925,000 Cash (925000-891680) 33,320

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