(1.5 pts) Prepare an Unadjusted Trial Balance: Following is a complete list of all accounts for Just Like Fred Astaire, Corp and their respective T-account balances at the end of July 2018. Assume all accounts have their normal debit or credit balance (e.g. Assets will have a debit balance, Liabilities will have a credit balance, etc.):

Cash $2,950

Rent Expense $1,800

Utilities Expense $300

Accounts Payable $1,650

Equipment $2,400

Wages Expense $1,030

Common Stock $5,000

Utilities Payable $200

Accounts Receivable $1,170

Service Revenue $2,800

Prepare an unadjusted trial balance for Just Like Fred Astaire, Corp. for July 31, 2018 with the list of accounts in the following order: assets, liabilities, common stock, revenues, and expenses (see illustration 2-13 in your custom text as well as examples from lecture as a reference).

(1.5 pts) Correct an Unadjusted Trial Balance: Suppose the accountant for Planet Gallifrey, Inc. is having trouble preparing the unadjusted trial balance, mixing up debits and credits and forgetting to record the inventory account balance. Imagine you are hired as a consultant to help provide advice to the accountant.

(1pt) Prepare a corrected unadjusted trial balance for Planet Gallifrey, Inc. by placing each account balance in the correct debit or credit column.

(0.5pts) After placing each account balance in the correct debit or credit column, re-calculate the column totals and find the missing amount for the Inventory account.

Account:	Debit:	Credit:
Cash		$9,800
A/R	$5,920
Equipment		$3,750
Inventory	$???
A/P	$4,565
Utilities payable		$615
Notes Payable		$15,000
Common Stock	$9,000
Sales Revenue	$6,000
Cost of Goods Sold (COGS)		$2,970
Wages Expense		$4,380
Utilities Expense		$1,210
Rent Expense	$2,900
TOTAL:	$???	$37,725