Answer:
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  Â
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. Â It is the first trial balance that is prepared.
