Part 4 - Unadjusted Trail Balance (5 Points) Using the T-Accounts in Part 4 abov
ID: 2479372 • Letter: P
Question
Part 4 - Unadjusted Trail Balance (5 Points)
Using the T-Accounts in Part 4 above populate the following trial balance below:
T-Accounts:
Cash
Sales
Jan 1 2013 67500
171000 May 31 2013
1345500 March 1 2013
Mar 12013 1435500
36990 Jun 30 2013
1402500 Oct 31 2013
Jul 31 2013 2208938
Jul 31 2013 3150000
2748000
7168778
Office
Equipment
Mar 15 2013 90500
Land
Jan 1 2014 385000
90500
385000
Wages
May 31 2013 171000
Warehouse
Facility
171000
Jan 1 2013 465000
Prepaid
Insurance
465000
Jun 30 2013 39660
Capital
39660
1525000 Jan 1 2013
Unearned sales
Revenue
1525000
Oct 31 2013 1402500
2208938 Jul 31 2013
Purchase
806438
Jan 1 2013 644325
Term
Loan
644325
3150000 Jul 31 2013
Accounts
Payable
3150000
644325 Jan 1 2013
90500 Mar15 2013
734825
MM-Q Watches Incorporated
Unadjusted Trial Balance
Period Ending December 31, 2013
Cash
Sales
Jan 1 2013 67500
171000 May 31 2013
1345500 March 1 2013
Mar 12013 1435500
36990 Jun 30 2013
1402500 Oct 31 2013
Jul 31 2013 2208938
Jul 31 2013 3150000
2748000
7168778
Office
Equipment
Mar 15 2013 90500
Land
Jan 1 2014 385000
90500
385000
Wages
May 31 2013 171000
Warehouse
Facility
171000
Jan 1 2013 465000
Prepaid
Insurance
465000
Jun 30 2013 39660
Capital
39660
1525000 Jan 1 2013
Unearned sales
Revenue
1525000
Oct 31 2013 1402500
2208938 Jul 31 2013
Purchase
806438
Jan 1 2013 644325
Term
Loan
644325
3150000 Jul 31 2013
Accounts
Payable
3150000
644325 Jan 1 2013
90500 Mar15 2013
734825
Explanation / Answer
Unadjusted Trail balance is prepared as under:
MM-Q Watches Incorporated Unadjusted Trial Balance Period Ending December 31, 2013 Account Debit Credit Cash 71,68,778 Land 3,85,000 Warehouse facility 4,65,000 Capital 15,25,000 Purchase 6,44,325 Accounts payable 7,34,825 Term loan 31,50,000 Unearned sales revenue 8,06,438 Prepaid Insurance 39,660 Wages 1,71,000 Equipment 90,500 Sales 27,48,000 Total 89,64,263 89,64,263