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In: Finance

How do you come up with the total of the debit side of the unadjusted trial balance?

Consider the following information from a company’s unadjusted trial balance at December 31, 2018. All accounts have normal balances.



Accounts Receivable$4,800
Accounts Payable
665
Cash
1,730
Service Revenue
5,890
Common Stock
4,300
Equipment
5,200
Insurance Expense
415
Land
4,100
Notes Payable, Due 2021
4,300
Notes Receivable, Matures 2019
1,230
Prepaid Insurance
415
Rent Expense
1,415
Retained Earning, January 1, 2018
7,880
Salaries and Wages Expense
3,730

How do you come up with the total of the debit side of the unadjusted trial balance?

Solutions

Expert Solution

the debit side will consist of assets and expenses.

so the following items will make the debit side of unadjusted trail balance:

accounts receivable 4,800
cash 1,730
equipment 5,200
insurance expense 415
land 4,100
notes receivable 1,230
prepaid insurance 415
rent expense 1,415
salaries and wages expense 3,730
total 23,035

extra:

credit side of undajusted trail balance:

accounts payable 665
service revenue 5,890
common stock 4,800
notes payable 4,300
retained earnings 7,880
total 23,035

jeff jeffy answered 2 years ago
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