Consider the following information from a company’s unadjusted trial balance at December 31, 2015. All accounts...
|
Consider the following information from a company’s unadjusted trial balance at December 31, 2015. All accounts have normal balances. |
| Accounts receivable | $ | 4,900 |
| Accounts payable | 670 | |
| Cash | 1,740 | |
| Service revenue | 6,020 | |
| Common stock | 4,400 | |
| Equipment | 5,300 | |
| Insurance expense | 420 | |
| Land | 4,200 | |
| Notes payable, due 2018 | 4,400 | |
| Notes receivable, matures 2016 | 1,240 | |
| Prepaid insurance | 420 | |
| Rent expense | 1,420 | |
| Retained earning, January 1, 2015 | 7,890 | |
| Salaries and wages expense | 3,740 | |
| What is the total of the debit side of the unadjusted trial balance? |
$18,980.
$23,380.
$14,880.
$18,310.
Homework Answers
Answer:
Total of the debit side of the unadjusted trial balance =$23,380
Working notes for the answer:
Total debit balances (listed in the order in which they appear above)
= Accounts Receivable + Cash + Equipment +land+ Insurance exp+ notes Receivable + Prepaid Insurance + Rent Expense + Salaries and Wages Expense
|
Accounts receivable |
4900 |
|
cash |
1740 |
|
equipment |
5300 |
|
Insurance expense |
420 |
|
Land |
4200 |
|
Note receivable |
1240 |
|
prepaid insurance |
420 |
|
Rent expense |
1420 |
|
Salaries and wages expense |
3740 |
|
Total |
23380 |
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