Question
After a recent power surge, the accountant salvaged the following Trial Balance which was saved before proofing for errors . While all the account titles
After a recent power surge, the accountant salvaged the following Trial Balance which was saved before proofing for errors. While all the account titles and account balance amounts are correct, some of the balances are not listed in the proper order or Debit/Credit columns. After making the necessary corrections, what is the correct balancing totals for this Trial Balance?
Lockhart Inc.
Trial Balance
November 30, 2017
Account Title Balance Debit Credit Cash $ 4,000 Accounts Receivable 1,300 Office Supplies $500 Rent Expense 830 Prepaid Insurance 2,400 Accounts Payable 300 Furniture 2,000 Unearned Revenue 1,900 Land 25,000 Utilities Payable 220 Service Revenue 4,800 Lockhart, Withdrawals 2,700 Lockhart, Capital 34,000 Salaries Expense 2,140 Utilities Expense 350 Total __?____ ___?____
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started