Question

Trial Balance

The accounts in the ledger of Hickory Furniture Company as of December 31, 2019, are listed in alphabetical order as follows. All accounts have normal balances. The balance of the cash account has been intentionally omitted.

Accounts Payable	$25,100
Accounts Receivable	50,150
Cash	?
Elaine Wells, Capital	117,050
Elaine Wells, Drawing	27,000
Fees Earned	418,000
Insurance Expense	7,950
Land	114,550
Miscellaneous Expense	11,700
Notes Payable	54,000
Prepaid Insurance	3,750
Rent Expense	79,400
Supplies	2,500
Supplies Expense	10,450
Unearned Rent	12,100
Utilities Expense	56,000
Wages Expense	234,100

Prepare an unadjusted trial balance, listing the accounts in their proper order and inserting the missing figure for cash. For those boxes in which no entry is required, leave the box blank.

Hickory Furniture Company
Unadjusted Trial Balance
December 31, 2019
	Debit Balances	Credit Balances

Answer 1

Hickory Furniture Company

Unadjusted Trial Balance as on December 31, 2019

PARTICULARS	DEBIT ($)	CREDIT ($)
Cash (WN 1 )	82,700
Accounts Receivable	50,150
Supplies	2,500
Prepaid Insurance	3,750
Land	114,550
Accounts Payable		25,100
Unearned Rent		12,100
Notes Payable		54,000
Drawings		27,000
Capital		117,050
Fees Earned		418,000
Wages Expense	234,100
Rent Expense	79,400
Utilities Expense	56,000
Supplies Expense	10,450
Insurance Expense	7,950
Miscellaneous Expense	11,700
TOTAL	653,250	653,250

Working note 1 :

Cash Balance can be found by deducting all debit balances from total credit balance.

Cash ($) = ( 25,100+12,100+54,000+27,000+117,050+418,000 ) - (50,150+2,500+3,750+114,550+234,100+79,400+56,000+10,450+7,950+11,700)

= $ 653,250 - $570,550 = $82,700