Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please I need help with errors, and I cant figure out the unadjusted trial balance. Thanks in advance. The following information apples to the questions
Please I need help with errors, and I cant figure out the unadjusted trial balance. Thanks in advance.
The following information apples to the questions displayed below The general ledger of Pipers Plumbing at January 1, 2018, includes the following account balances: Debits Credits Cash Accounts Receivable Supplies Equipment $3,900 8,900 2,900 24,000 $5,600 3,600 4,600 Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings 7000 8,900 Totals $39,700 $39,700 The following is a summary of the transactions for the year: a. January 24 Provide plumbing services for cash, $14,000, and on account, $59,000. b. March 13 Collect on accounts receivable, $47,000. c. May 6lssue shares of common stock in exchange for $10,000 cash. d. June 30Pay salaries for the current year, $31,800. e. September 15 Pay for utilities expenses, $11,800, of which $4,600 represents costs for 2017. f. November 24 Receive cash in advance from customers, $7600 g. December 30 Pay $1,800 cash dividends to stockholders. h. Depreciation for the year on the machinery is $5,600. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $7,600 paid in advance by customers, $5,800 of the work has been completed by the end of the year Answer is not complete Cash Accounts Receivable Beg. Bal 3,900 Beg. Bal 8,900 1400031,800d 11,800 e 1,800 9 59,000 47,000 O b 0,000 7,600 47,000 0 37,100 0 0 0 End. Bal End. Bal 20,900 Supplies Equipment 24,000 0 Beg. Bal 2,900 Beg. Bal 1,900 End. Bal 1,000 End. Bal 24,000 Accumulated Depreciation 5,600 5,600 0 11,200 Accounts Payable Beg. Bal Beg. Bal 3,600 End. Bal End. Bal 3,600 Utilities Payable Deferred Revenue Beg. Bal 4,600 Beg. Bal 4,600 8007,60 0 5,800 End. Bal End. Bal 1,800 Common Stock Retained Earnings Beg. Bal 8,900 17,000 10,000 c. Beg. Bal 0 0 0 End. Bal 27,000 End. Bal 8,900 Dividends Service Revenue Beg. Bal Beg. Bal 1,800 o73,000 a 0 5,800 End. Bal 1,800 End. Bal 78,800 Salaries Expense Utilities Expense Beg. Bal Beg. Bal 31,800 0 7,200 0 End. Bal 31,800 End. Bal 7,200 Supplies Expense Depreciation Expense Beg. Bal Beg. Bal 1,900 0 5,600 0 End. Bal 1,900 End. Bal 5,600 value: 5.00 points 4. Prepare an unadjusted trial balance PIPERS PLUMBING Unadjusted Trial Balance December 31, 2018 Accounts Cash Accounts receivable Supplies Equipment Accu Accounts payable Utilities payable Deferred revenue Common stock Retained earnings Dividends Service revenue Salaries expense Utilities expense Supplies expense Depreciation expense Debit Credit mulated depreciation Totals 0Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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