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. Accounts Payable $42,770
Accounts Receivable 116,900
Cash ?
Elaine Wells, Capital 75,000
Elaine Wells, Drawing 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
Supplies 4,275
Supplies Expense 6,255
Unearned Rent 12,000
Utilities Expense 26,850
Wages Expense 580,700
Prepare an unadjusted trial balance.

Hickory Furniture Company

Unadjusted Trial Balance

As of December 31, 2019

Accounts Title                   Debit         Credit

Accounts Payable                              $42,770

Accounts Receivable    $116,900

Cash                                 33,320

Elaine Wells, Capital                           75,000

Elaine Wells, Drawing     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

Supplies                          4,275

Supplies Expense          6,255

Unearned Rent                                  12,000

Utilities Expense          26,850

Wages Expense         580,700

Totals                       $925,000   $925,000    

Explanation:

a) Data and Calculations:

Accounts Title                   Debit             Credit

Accounts Payable                                 $42,770

Accounts Receivable    $116,900

Cash ?

Elaine Wells, Capital                              75,000

Elaine Wells, Drawing     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

Supplies                          4,275

Supplies Expense          6,255

Unearned Rent                                 12,000

Utilities Expense          26,850

Wages Expense         580,700

Totals                        $891,680  $925,000

Cash = $925,000 - $891,680 = $33,320

b) The unadjusted Trial Balance lists the general ledger account balances of Hickory Furniture Company before the adjustment of accounts.  It is the first trial balance that is prepared.

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