Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Errors inTrial Balance The following preliminaryunadjusted trial balanceof Ranger Co., a sports ticket agency, does not balance: Ranger Co. Unadjusted Trial Balance August 31, 20Y1

Errors inTrial Balance

The following preliminaryunadjusted trial balanceof Ranger Co., a sports ticket agency, does not balance:

Ranger Co.

Unadjusted Trial Balance

August 31, 20Y1Debit BalancesCredit BalancesCash49,580Accounts Receivable23,300Prepaid Insurance8,380Equipment7,800Accounts Payable13,580Unearned Rent3,020Common Stock33,580Retained Earnings51,700Dividends10,400Service Revenue87,760Wages Expense44,000Advertising Expense7,540Miscellaneous Expense1,490Totals183,900158,230

When theledgerand other records are reviewed, you discover the following: (1) thedebitsandcreditsin the cashaccounttotal $49,580 and $35,600, respectively; (2) a billing of $2,630 to a customer on account was not posted to the accounts receivable account; (3) a payment of $1,880 made to a creditor on account was not posted to the accounts payable account; (4) the balance of the unearned rent account is $4,980; (5) the correct balance of the equipment account is $78,000; and (6) each account has anormal balance.

DO a corrected unadjusted trial balance. For those boxes in which no entry is required, leave the box blank.

Ranger Co.Unadjusted Trial BalanceAugust 31, 20Y1Debit BalancesCredit BalancesCashfill in the blank 1

fill in the blank 2

Accounts Receivablefill in the blank 3

fill in the blank 4

Prepaid Insurancefill in the blank 5

fill in the blank 6

Equipmentfill in the blank 7

fill in the blank 8

Accounts Payablefill in the blank 9

fill in the blank 10

Unearned Rentfill in the blank 11

fill in the blank 12

Common Stockfill in the blank 13

fill in the blank 14

Retained Earningsfill in the blank 15

fill in the blank 16

Dividendsfill in the blank 17

fill in the blank 18

Service Revenuefill in the blank 19

fill in the blank 20

Wages Expensefill in the blank 21

fill in the blank 22

Advertising Expensefill in the blank 23

fill in the blank 24

Miscellaneous Expensefill in the blank 25

fill in the blank 26

fill in the blank 27

fill in the blank 28

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Business Accounting

Authors: Jill Collis, Andrew Holt, Roger Hussey

3rd Edition

113752149X, 9781137521491

More Books

Students also viewed these Accounting questions

Question

Mortality rate

Answered: 1 week ago

Question

Armed conflicts.

Answered: 1 week ago