Prepare a corrected trial balance for Wildhorse Co.. All accounts should have a normal balance. Wildhorse Co.Trial BalanceFor the Quarter Ended March 31, 2022 Debit Credit Cash $28,200 Accounts Receivable $35,000 Prepaid Insurance 3,500 Equipment 59,000 Accounts Payable 15,200 Unearned Service Revenue 10,500 Notes Payable 21,500 Common Stock 35,000 Retained Earnings 26,900 Dividends 1,200 Service Revenue 50,000 Salaries and Wages Expense 13,400 Utilities Expense 7,800 Rent Expense 11,000 $160,300 $157,900

Prepare a corrected trial balance for Wildhorse Co.. All accounts should have a normal balance. Wildhorse Co.Trial BalanceFor the Quarter Ended March 31, 2022 Debit Credit Cash $28,200 Accounts Receivable $35,000 Prepaid Insurance 3,500 Equipment 59,000 Accounts Payable 15,200 Unearned Service Revenue 10,500 Notes Payable 21,500 Common Stock 35,000 Retained Earnings 26,900 Dividends 1,200 Service Revenue 50,000 Salaries and Wages Expense 13,400 Utilities Expense 7,800 Rent Expense 11,000 $160,300 $157,900

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 5EB: Catherines Cookies has a beginning balance in the Accounts Receivable control total account of...

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Catherines Cookies has a beginning balance in the Accounts Receivable control total account of $8,200. $15,700 was credited to Accounts Receivable during the month. In the sales journal, the Accounts Receivable debit column shows a total of $12,000. What is the ending balance of the Accounts Receivable account in the general ledger?
Required Information On January 1, 2024, the general ledger of TNT Fireworks includes the following account balances: Accounts Cash Accounts Receivable Debit $ 58,800 25,200 Credit Allowance for Uncollectible Accounts $ 2,300 Inventory 36,400 Notes Receivable (5%, due in 2 years) 13,200 Land 156,000 Accounts Payable Common Stock 14,900 221,000 51,400 $ 289,600 $ 289,608 Retained Earnings Totals During January 2024, the following transactions occur. January 1 Purchase equipment for $19,680. The company estimates a residual value of $1,600 and a six-year service life. January 4 Pay cash on accounts payable, $9,600. January 8 Purchase additional inventory on account, $83,980. January 15 Receive cash on accounts receivable, $22,100. January 19 Pay cash for salaries, $29,980. January 28 Pay cash for January utilities, $16,500. January 38 Firework sales for January total $221,008. All of these sales are on account. The cost of the units sold is $115,580. Information for adjusting entries: a.…
Current Attempt in Progress At December 1, 2022, Tamarisk, Inc. Accounts Receivable balance was $17470. During December, Tamarisk had credit sales of $46800 and collected accounts receivable of $37440. At December 31, 2022, the Accounts Receivable balance is O $64270 debit O $17470 debit O $26830 credit O $26830 debit Save for Later Attempts: 0 of 1 used Submit Answer
Required Information On January 1, 2024, the general ledger of TNT Fireworks includes the following account balances: Accounts Cash Debit Credit Accounts Receivable $ 58,800 25,200 Allowance for Uncollectible Accounts $ 2,300 Inventory 36,480 Notes Receivable (5%, due in 2 years) 13,200 Land 156,000 Accounts Payable Common Stock Retained Earnings 14,900 221,200 51,408 Totals $ 289,680 $ 289,600 During January 2024, the following transactions occur. January 1 Purchase equipment for $19,600. The company estimates a residual value of $1,608 and a six-year service life. January 4 Pay cash on accounts payable, $9,600. January 8 Purchase additional inventory on account, $83,980. January 15 Receive cash on accounts receivable, $22,100. January 19 Pay cash for salaries, $29,900. January 28 Pay cash for January utilities, $16,600. January 30 Firework sales for January total $221,000. All of these sales are on account. The cost of the units sold is $115,500. Information for adjusting entries: a.…
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Wildhorse Co. Trial Balance For the Quarter Ended March 31, 2022
	Debit	Credit
Cash	$28,200
Accounts Receivable		$35,000
Prepaid Insurance	3,500
Equipment	59,000
Accounts Payable		15,200
Unearned Service Revenue	10,500
Notes Payable		21,500
Common Stock		35,000
Retained Earnings	26,900
Dividends		1,200
Service Revenue		50,000
Salaries and Wages Expense	13,400
Utilities Expense	7,800
Rent Expense	11,000
	$160,300	$157,900