Question

Trial Balance The accounts in the ledger of Hickory Furniture Company as of December 31, 2016,...

Trial Balance

The accounts in the ledger of Hickory Furniture Company as of December 31, 2016, are listed in alphabetical order as follows. All accounts have normal balances. The balance of the cash account has been intentionally omitted.

Accounts Payable $42,770
Accounts Receivable 116,900
Cash ?
Common Stock 15,000
Dividends 24,000
Fees Earned 745,230
Insurance Expense 3,600
Land 50,000
Miscellaneous Expense 9,500
Notes Payable 50,000
Prepaid Insurance 21,600
Rent Expense 48,000
Retained Earnings 60,000
Supplies 4,275
Supplies Expense 6,255
Unearned Rent 12,000
Utilities Expense 26,850
Wages Expense 580,700

a. Prepare an unadjusted trial balance. List all the accounts in the order of Assets, Liabilities, Stockholders’ equity, Revenues, and Expenses. Place the amounts in the proper columns. If an entry is not required in an amount box, leave it blank.

Hickory Furniture Company
Unadjusted Trial Balance
December 31, 2016
Debit Balances Credit Balances
Cash
Accounts Receivable
Supplies
Prepaid Insurance
Land
Accounts Payable
Unearned Rent
Notes Payable
Miscellaneous Expense
Common Stock
Wages Expense
Miscellaneous Expense
Wages Expense
Rent Expense
Utilities Expense
Supplies Expense
Cash
Fees Earned

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