
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Question

Transcribed Image Text: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.
$ 42,770
Accounts Payable
Notes Payable
Prepaid Insurance
Rent Expense
Supplies
Supplies Expense
50,000
Accounts Receivable
116,900
21,600
Cash
?
48,000
Elaine Wells, Capital
Elaine Wells, Drawing
75,000
4,275
24,000
6,255
Fees Earned
Unearned Rent
745,230
12,000
Utilities Expense
Wages Expense
Insurance Expense
3,600
26,850
Land
50,000
580,700
Miscellaneous Expense
9,500
Prepare an unadjusted trial balance, listing the accounts in their normal order and insert-
ing the missing figure for cash
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 3 steps with 2 images

Knowledge Booster
Similar questions
- Do not give answer in imagearrow_forwardHunter Company bank statement indicated a cash balance of $9,610, while the cash 11. chut ledger account on that date shows a balance of $7,430 in July 31. Outstanding checks totaled $2,417. A $500 check mailed to the bank for deposit had not reached the bank at the statement date. The bank returned a customer's NSF check for $225 received as payment of an account receivable. 2016092 FAT 2019302296 The bank statement showed $30 interest earned on 201504 20130022 2019002295 the bank balance for the month of July. 7090022 2019002295 20120arrow_forwardThe following information relates to the cash position of Cathy Fraser, loan broker: 1. Cash at Bank account balance as at 30 June 2021: $40 451 debit. 2. Bank statement balance as at 30 June 2021: $42 512 credit. 3. 30 June receipts amounting to $1820 have not been deposited. 4. Cheques issued but not presented total $3468. 5. A $312 cheque was returned marked ‘dishonoured’. The cheque had been received from J. Simms, a new customer. 6. A $750 deposit made by L. Richards was incorrectly credited to the bank account of Cathy Fraser. 7. The bank statement shows that the bank has charged the business’s account with fees and charges of $25. 8. Item 6 has not yet been entered in the cash journals. Required Prepare a bank reconciliation at 30 June 2021, assuming that items 3, 4 and 5 are already recorded in the cash journalsarrow_forward
Recommended textbooks for you
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education


Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,

Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON

Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education