Errors in trial balance
The following preliminary unadjusted trial balance of Ranger Co., a sports ticket agency, does not balance:
| Ranger Co. Unadjusted Trial Balance August 31, 2014 | ||
| Debit Balance | Credit Balance | |
| Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 77,600 | |
| Accounts Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 37,750 | |
| Prepaid Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 12,000 | |
| Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 19,000 | |
| Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 29,100 | |
| Unearned Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 10,800 | |
| Capital Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 40,000 | |
| Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 70,000 | |
| Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 13,000 | |
| Service Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 385,000 | |
| Wages Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 213,000 | |
| Advertising Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 16,350 | |
| Miscellaneous Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 18400 | |
| 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;
6) each account has a normal balance.
Prepare a corrected unadjusted trial balance.
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