Question

The accounts in the ledger of Atlantic Furniture Company as of July 2018 are listed in alphabetical order as follows. All accounts have normal balances. The balance of the cash account has been intentionally omitted. Accounts Payable $39,900 79,850 Accounts Receivable Cash Common Stock Dividends 156,400 43,000 Fees Earned Insurance Expense 665,400 12,650 182,300 Land Miscellaneous Expense Notes Payable 18,650 87,000 6,000 126,400 Prepaid Insurance Rent Expense Retained Earnings 29,900 4,000 Supplies Supplies Expense Unearned Rent 16,650 19,300 Utilities Expense 89,150

Answer 1

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atlantic furnture company Unadjusted Trial balance July 31 2018 Accounts Title Debit balance credit balance Accounts payable $ 39,900 2 Accounts Receivable $ 79,850 3 Cash (note) $ 419,250 4 Common stock $ 156,400 5 dividends $ 43,000 6 fee earned $ 665,400 7 insurance expense $ 12,650 8 land $ 182,300 9 miscellaneous expense $ 18,650 10 note payable 87,000 11 prepaid insurance $ 6,000 12 Rent expense $ 126,400 13 retained earings $ 29,900 14 supplies $ 4,000 15 supplies expense $ 16,650 16 unearned rent $ 19,300 17 utility expense $ 89,150 Total S 997,900 S 997,900 Note Balance before cash Cash (997900 -578650) 997,900 $ $ 578,650 S 419,250

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