The following preliminary unadjusted trial balance of Ranger Co., sports ticket agency, Errors in trial balance Ranger Co. Unadjusted
Trial Balance
August 31, 2014
Debit balance Credit Balances
Cash 77600
Accounts Receivable. 377500
Prepaid Insurance 12000
Equipment.. 19000
Accounts Payable 29100
Unearned Rent 10800
Carmen Meeks, Capital 110000
Carmen Meeks, Drawing. 13,000
Service Revenue 385000
Wages 213000
Expense
Advertising Expense.. 16350
Miscellaneous Expense 18,400
273,700 668,300
When the ledger and other records are reviewed, you discover the following:
(1) the debits and credits in the cash account total $77,600 and $62,100, respectively;
(2) a billing of $9,000 to a customer on account was not posted to the accounts receivable account
(3) a payment of $4,500 made to a creditor on account was not posted to the accounts payable accOunt;
(4) the balance of the unearned rent account is $5,400;
(5) the correct balance of the equipment account is $190,000; and
(6) each account has a normal balance.
Prepare a corrected unadjusted trial balance.

Answer and Explanation:

The preparation of the corrected un-adjusted trial balance is presented below:

Particulars                  Dr Amount               Cr Amount

Cash                            $15,500  

Accounts Receivable $46,750  

Prepaid Insurance      $12,000  

Equipment                   $190,000  

Accounts payable                                           $24,600  

Unearned rent                                                $5,400  

Common stock                                               $40,000  

Retained Earnings                                           $70,000  

Dividends                    $13,000  

Service Revenue                                              $385,000  

Wages expense           $213,000  

Advertising expense   $16,350  

Miscellaneous expense $18,400  

Total                                $525,000                  $525000

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

                                          hope it

start networking with people and see what is availble