What would the unadjusted trial balance look like for thefollowing transactions?1-JanCash4,000 ...What would the unadjusted...

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Accounting

What would the unadjusted trial balance look like for thefollowing transactions?
1-Jan Cash 4,000
   Common Stock 4,000
2-Jan Cash 5000
   Notes Payable 5000
3-Jan Rent Expense 900
   Cash 900
4-Jan Supplies 450
   Accounts Payable 450
5-Jan Equipment 7200
   Cash 7200
6-Jan Equipment 2850
   Cash 1350
   Accounts Payable 1500
7-Jan Prepaid Advertisement 375
Advertisement Expense 125
Cash 500
8-Jan Insurance Expense 225
   Cash 225
9-Jan Cash 2625
   Service Revenue 2625
10-Jan Cash 5125
   Unearned Service Revenue 5125
11-Jan Cash 1500
   Accounts Receivable 1500
12-Jan Accounts Payable 600
   Cash 600
13-Jan Cash 1300
   Accounts Receivable 1300
14-Jan Dividends 1000
   Cash 1000

Answer & Explanation Solved by verified expert

3.8 Ratings (458 Votes)

The unadjusted trial balance for the above transactions is shown as follows:-

Trial Balance (Amounts in $)

Account Titles	Debit	Credit
Cash (WN 1)	7,775
Common Stock		4,000
Notes Payable		5,000
Rent Expense	900
Supplies	450
Accounts Payable (450+1,500-600)		1,350
Equipment (7,200+2,850)	10,050
Prepaid Advertisement	375
Advertisement Expense	125
Insurance Expense	225
Service Revenue		2,625
Unearned Service Revenue		5,125
Accounts Receivable (1,500+1,300)		2,800
Dividends	1,000
Total	20,900	20,900

Working Notes:-

1) Calculation of Ending Cash Balance (Amounts in $)

Issue of Common Stock	4,000
Add: Issue of Notes payable	5,000
Less: Rent expense paid	(900)
Less: Purchase of Equipment (7,200+1,350)	(8,550)
Less: Advertisement expense paid	(500)
Less: Insurance expense paid	(225)
Add: Service Revenue received (2,625+5,125)	7,750
Add: Received from accounts receivable (1,500+1,300)	2,800
Less: Cash paid to Accounts payable	(600)
Less: Dividends Paid	(1,000)
Ending Cash Balance	7,775

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Transcribed Image Text

In: AccountingWhat would the unadjusted trial balance look like for thefollowing transactions?1-JanCash4,000 ...What would the unadjusted trial balance look like for thefollowing transactions?1-JanCash4,000 Common Stock4,0002-JanCash5000 Notes Payable50003-JanRent Expense900 Cash9004-JanSupplies450 Accounts Payable4505-JanEquipment7200 Cash72006-JanEquipment2850 Cash1350 Accounts Payable15007-JanPrepaid Advertisement375Advertisement Expense125Cash5008-JanInsurance Expense225 Cash2259-JanCash2625 Service Revenue262510-JanCash5125 Unearned Service Revenue512511-JanCash1500 Accounts Receivable150012-JanAccounts Payable600 Cash60013-JanCash1300 Accounts Receivable130014-JanDividends1000 Cash1000

1-Jan	Cash	4,000
	Common Stock		4,000
2-Jan	Cash	5000
	Notes Payable		5000
3-Jan	Rent Expense	900
	Cash		900
4-Jan	Supplies	450
	Accounts Payable		450
5-Jan	Equipment	7200
	Cash		7200
6-Jan	Equipment	2850
	Cash		1350
	Accounts Payable		1500
7-Jan	Prepaid Advertisement	375
	Advertisement Expense	125
	Cash		500
8-Jan	Insurance Expense	225
	Cash		225
9-Jan	Cash	2625
	Service Revenue		2625
10-Jan	Cash	5125
	Unearned Service Revenue		5125
11-Jan	Cash	1500
	Accounts Receivable		1500
12-Jan	Accounts Payable	600
	Cash		600
13-Jan	Cash	1300
	Accounts Receivable		1300
14-Jan	Dividends	1000
	Cash		1000