Question

Consider the following information... Consider the following information from a company’s unadjusted trial balance at December 31, 2018. All accounts have normal balances. Accounts Receivable $ 6,000 Accounts Payable 725 Cash 1,850 Service Revenue 7,450 Common Stock 5,500 Equipment 6,400 Insurance Expense 475 Land 5,300 Notes Payable, Due 2021 5,500 Notes Receivable, Matures 2019 1,350 Prepaid Insurance 475 Rent Expense 1,475 Retained Earning, January 1, 2018 8,000 Salaries and Wages Expense 3,850 What is the total of the debit side of the unadjusted trial balance?

Answer 1

Answer:

$27,175

Explanation:

In trial balance, there are two columns namely debit columns and credit columns. The total of debit and credit columns should always be matched.  

The debit columns records assets and expenses side  whereas, the credit column record revenue, stockholder equity, and the liability side

The computation of the total of debit side is shown below:

= Accounts Receivable + Cash +  Equipment + Insurance Expense + Land + Notes Receivable + Prepaid Insurance + Rent Expense + Salaries and Wages Expense

= $6,000 + $1,850 + $6,400 + $475 + $5,300 + $1,350 + $475 + $1,475 + $3,850

= $27,175