Corporate Financial Accounting
14th Edition
ISBN: 9781305653535
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter 2, Problem 2.16EX
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 | $92,400 | Notes Payable | $25,000 |
| Accounts Receivable | 483,600 | Prepaid Insurance | 21,600 |
| Cash | ? | Rent Expense | 140,000 |
| Common Stock | 75,000 | Retained Earnings | 311,600 |
| Dividends | 24,000 | Supplies | 3,975 |
| Fees Earned | 2,750,000 | Supplies Expense | 11,200 |
| Insurance Expense | 9,000 | Unearned Rent | 6,000 |
| Land | 50,000 | Utilities Expense | 49,100 |
| Miscellaneous Expense | 10,200 | Wages Expense | 2,250,000 |
Prepare an unadjusted trial balance, listing the accounts in their normal order and inserting the missing figure for cash.
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Chapter 2 Solutions
Corporate Financial Accounting
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