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CP 2-10 The following trial balance was prepared from the books of McQueen Corp. at its year-end, December 31, 2019. The new bookkeeper was
CP 2-10 The following trial balance was prepared from the books of McQueen Corp. at its year-end, December 31, 2019. The new bookkeeper was unable to balance the accounts or to list them in their proper order. Individual account balances are correct, but debits may be classified as credits and vice-versa. Acct. No. Account Account Balances Debit Credit 210 Accounts payable $ 13,250 110 Accounts receivable $10,000 181 Building 50,000 320 Common stock 75,000 101 Cash 15,500 182 Furniture 6,000 180 Land 12,000 161 Prepaid insurance 9,600 201 Bank loan 28,000 350 Dividends 2,350 162 Prepaid rent 8,000 173 Unused supplies 2,800 Totals $164,900 $67,600 Required: Prepare a corrected trial balance showing the accounts in numerical order and balances in the correct column. Total the columns and ensure total debits equal total credits. Assume all accounts have normal balances.
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