Question

RICHARD CONSULTING Trial Balance June 30, 2022 Debit Credit Cash Accounts Receivable $ 6,850 7,000 1,982 3,180 15,000 Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock $ 4,245 5,200 21,982 8,300 Service Revenue Salaries and Wages Expense Rent Expense 4,000 1,715 $39,727 $39,727

Answer 1

Solution-

RICHARD CONSULTING

Adjusted Trial Balance

June 30,2022

Accounts	Debit($)	Credit($)
Cash	6850
Account Receivable	11090
Supplies	720
Prepaid Insurance	2950
Equipment	15000
Accumulated Depreciation- Equipment		250
Accounts Payable		4455
Salaries and Wages Payable		1420
Unearned Service Revenue		1100
Common Stock		21982
Service Revenue		16490
Salaries and Wages Expense	5420
Rent Expense	1715
Depreciation Expense	250
Insurance Expense	230
Utilities Expense	210
Supplies Expense	1262
Total	45697	45697

Note- Here, in this problem four T-accounts(Ledger) are rectified due to some error , which are -

* Supplies

* Prepaid Insurance

* Accounts Payable

* Rent Expense

Supplies

Beg Bal	$1982	6/30	$1262
End Bal	$720

Prepaid Insurance

Beg Bal	$3180	6/30	$230
End Bal	$2950

Accounts Payable

		Beg Bal	$4245
		6/30	$210
		End Bal	$4455

   Rent Expense

Beg Bal	$1715
End Bal	$1715