Question

In: Accounting

Consider the following information from a company’s unadjusted trial balance at December 31, 2015. All accounts...

Consider the following information from a company’s unadjusted trial balance at December 31, 2015. All accounts have normal balances.
  Accounts receivable $ 5,000
  Accounts payable 675
  Cash 1,750
  Service revenue 6,150
  Common stock 4,500
  Equipment 5,400
  Insurance expense 425
  Land 4,300
  Notes payable, due 2018 4,500
  Notes receivable, matures 2016 1,250
  Prepaid insurance 425
  Rent expense 1,425
  Retained earning, January 1, 2015 7,900
  Salaries and wages expense 3,750

What is the total of the debit side of the unadjusted trial balance?

Solutions

Expert Solution

  • All working forms the part of the answer
  • The given balances are classified into Debit balances and Credit balances.

Accounts Titles

Amount given

Debit

Credit

Accounts receivable

5,000

$               5,000.00

  Accounts payable

675

$               675.00

  Cash

1,750

$               1,750.00

  Service revenue

6,150

$            6,150.00

  Common stock

4,500

$            4,500.00

  Equipment

5,400

$               5,400.00

  Insurance expense

425

$                 425.00

  Land

4,300

$               4,300.00

  Notes payable, due 2018

4,500

$            4,500.00

  Notes receivable, matures 2016

1,250

$               1,250.00

  Prepaid insurance

425

$                 425.00

  Rent expense

1,425

$               1,425.00

  Retained earning, January 1, 2015

7,900

$            7,900.00

  Salaries and wages expense

3,750

$               3,750.00

TOTALs

$                  23,725.00

$              23,725.00

  • The total of debit (and credit side) of the Unadjusted Trial balance = $23,725

ekkarill92 answered 1 year ago
Next > < Previous

Related Solutions

Consider the following information from a company’s unadjusted trial balance at December 31, 2018. All accounts...
Consider the following information from a company’s unadjusted trial balance at December 31, 2018. All accounts have normal balances. Accounts Receivable $ 5,300 Accounts Payable 690 Cash 1,780 Service Revenue 6,540 Common Stock 4,800 Equipment 5,700 Insurance Expense 440 Land 4,600 Notes Payable, Due 2021 4,800 Notes Receivable, Matures 2019 1,280 Prepaid Insurance 440 Rent Expense 1,440 Retained Earning, January 1, 2018 7,930 Salaries and Wages Expense 3,780 What is the total of the debit side of the unadjusted trial...
Garvey Company’s unadjusted trial balance includes the following account balances as of December 31, 2015: Debits...
Garvey Company’s unadjusted trial balance includes the following account balances as of December 31, 2015: Debits Credits   Cash $ 69,420   Accounts receivable 118,700   Interest receivable 1,380   Supplies 141,400   Prepaid insurance 8,900   Notes Receivable (short-term) 51,200   Equipment 283,400   Accumulated Depreciation––Equipment $ 65,700   Accounts payable 106,100   Salaries and Wages Payable 22,000   Unearned revenue 9,600   Notes Payable (long-term) 89,000   Common Stock 220,500   Retained earnings 146,300   Service revenue 41,300   Interest revenue 22,300   Supplies Expense 0   Repair and Maintenance Expense 27,000   Rent Expense 18,200   Depreciation...
Garvey Company’s unadjusted trial balance includes the following account balances as of December 31, 2015: Debits...
Garvey Company’s unadjusted trial balance includes the following account balances as of December 31, 2015: Debits Credits Cash $ 69,290 Accounts receivable 118,100 Interest receivable 1,360 Supplies 140,700 Prepaid insurance 8,850 Notes Receivable (short-term) 50,900 Equipment 282,000 Accumulated Depreciation––Equipment $ 65,400 Accounts payable 105,600 Salaries and Wages Payable 21,900 Unearned revenue 9,500 Notes Payable (long-term) 88,600 Common Stock 219,400 Retained earnings 145,600 Service revenue 41,100 Interest revenue 22,200 Supplies Expense 0 Repair and Maintenance Expense 26,850 Rent Expense 18,100 Depreciation...
The following list of accounts is taken from the December 31, 2020, unadjusted trial balance of...
The following list of accounts is taken from the December 31, 2020, unadjusted trial balance of Perdu Sales, a business that is owned by Eldon Perdu. Debit Credit Cash $ 8,000 Merchandise inventory 9,800 Prepaid selling expense 8,000 Store equipment 40,000 Accumulated depreciation, store equipment $ 9,800 Accounts payable 14,840 Salaries payable 0 Eldon Perdu, capital 25,360 Eldon Perdu, withdrawals 3,600 Sales 858,000 Sales returns and allowances 33,000 Sales discounts 8,000 Cost of goods sold 431,000 Sales salaries expense 94,000...
JC’s Company’s unadjusted and adjusted trial balances at December 31, 2017, follow. Unadjusted trial Balance DR...
JC’s Company’s unadjusted and adjusted trial balances at December 31, 2017, follow. Unadjusted trial Balance DR CR Cash 105,000 Prepaid Rent 60,000 Supplies 38,000 Office furniture 460,000 Accumulated dep office furniture 92,000 Accounts payable 102,500 Salaries payable Unearned service revenue 15,900 SWT, Capital 453,000 SWT, Drawing 15,400 Service revenue 205,000 Salaries expense 110,000 Depreciation expense Supplies Expense Rent Expense 80,000 868,400 868,400 Adjusted Trial Balance DR CR Cash 105,000 Prepaid Rent 20,000 Supplies 19,500 Office furniture 460,000 Accumulated dep office...
The following account balances were taken from ABC Company’s unadjusted trial balance at December 31, 2020:...
The following account balances were taken from ABC Company’s unadjusted trial balance at December 31, 2020: Accounts Payable ............ $56,000 Accounts Receivable ......... $42,000 Cash ........................ $11,000 Common Stock ................ $63,000 Cost of Goods Sold .......... $52,000 Income Tax Expense .......... $12,000 Insurance Expense ........... $21,000 Inventory ................... $70,000 Land ........................ $68,000 Mortgage Payable ............ $49,000 Patent ...................... $31,000 Prepaid Insurance ........... $17,000 Rental Revenue .............. $46,000 Retained Earnings ........... $72,000 (at January 1, 2020) Sales Revenue ............... $95,000 Supplies...
The following account balances were taken from ABC Company’s unadjusted trial balance at December 31, 2020:...
The following account balances were taken from ABC Company’s unadjusted trial balance at December 31, 2020: Accounts Payable ............ $56,000 Accounts Receivable ......... $42,000 Cash ........................ $11,000 Common Stock ................ $63,000 Cost of Goods Sold .......... $52,000 Income Tax Expense .......... $12,000 Insurance Expense ........... $21,000 Inventory ................... $70,000 Land ........................ $68,000 Mortgage Payable ............ $49,000 Patent ...................... $31,000 Prepaid Insurance ........... $17,000 Rental Revenue .............. $46,000 Retained Earnings ........... $72,000 (at January 1, 2020) Sales Revenue ............... $95,000 Supplies...
The following account balances were taken from ABC Company’s unadjusted trial balance at December 31, 2020:...
The following account balances were taken from ABC Company’s unadjusted trial balance at December 31, 2020: Accounts Payable ............ $56,000 Accounts Receivable ......... $42,000 Cash ........................ $11,000 Common Stock ................ $63,000 Cost of Goods Sold .......... $52,000 Income Tax Expense .......... $12,000 Insurance Expense ........... $21,000 Inventory ................... $70,000 Land ........................ $68,000 Mortgage Payable ............ $49,000 Patent ...................... $31,000 Prepaid Insurance ........... $17,000 Rental Revenue .............. $46,000 Retained Earnings ........... $72,000 (at January 1, 2020) Sales Revenue ............... $95,000 Supplies...
3. Selected accounts from the December 31, 2015, adjusted trial balance of the Hodges Company are...
3. Selected accounts from the December 31, 2015, adjusted trial balance of the Hodges Company are shown below. Debit Credit Inventory, January 1, 2015 $30,000 Sales Revenue $90,000 Sales Returns and Allowances 3,000 Purchases 40,000 Freight-In 2,500 Selling Expenses 14,000 Administrative Expenses 8,000 Bad Debts Expense 500 Depreciation Expense-Building 1,500 Interest Expense 2,000 Income Tax Expense 2,200 Dividends 2,100 On December 31, 2015 the inventory was $18,000. Required: Prepare a 2015 income statement for the Hodges Company. ANSWER:
S Company’s unadjusted trial balance at December 31 (the end of the fiscal year) includes the...
S Company’s unadjusted trial balance at December 31 (the end of the fiscal year) includes the following accounts: Allowance for Doubtful Accounts: Debit balance $4,000 Accounts Receivable: $1,5000,000 S Company estimates its bad debt expense to be 1.5% of ending receivables. Determine its bad debt expense for the fiscal year ended December 31.
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT