Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

6- The new accountant created a trial balance which is out of balance. Your task is to correct the error and balance. All accounts should

image text in transcribedimage text in transcribed

6- The new accountant created a trial balance which is out of balance. Your task is to correct the error and balance. All accounts should have a normal balance. Fill in the missing accounts. McCoy Company Trial Balance For the Quarter Ended March 31, 2022 Debit Credit Cash $28,000 Accounts Receivable $32,000 Prepaid Insurance Equipment Accounts Payable 2,500 60,000 15,000 Unearned Service Revenue 10,000 Notes Payable Common Stock 20,000 30,000 Retained Earnings 27,000 Dividends 1,500 Service Revenue 52,000 Salaries and Wages Expense Utilities Expense Rent Expense 15,000 5,000 10,000 $157,500 Total balance $150,500 Answer McCoy Company Trial Balance For the Quarter Ended March 31, 2022 Debit Credit Cash Accounts Receivable Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Utilities Expense Rent Expense Total Balance $154,000 $154,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

9781266566899

More Books

Students also viewed these Accounting questions