Can you please tell me where I am off on the Debits in the adjusted trial balance column on Tab (steps 5 and 7 Trial balance) of the attached excel document? I believe my credits total is correct, but my Debits don’t match. I highlighted the column in red.
| Peyton Approved | |||||||||||||||||||
| Trial Balance | |||||||||||||||||||
| 2014 | |||||||||||||||||||
| Unadjusted trial balance | Adjusting entries | Adjusted trial balance | |||||||||||||||||
| Account | Debit | Credit | Debit | Credit | Debit | Credit | |||||||||||||
| Cash | 47,896.75 | 32,187.31 | |||||||||||||||||
| Baking Supplies | 20,500.00 | 19,400.00 | 1,100.00 | ||||||||||||||||
| Merchandise Inventory | 175.63 | 175.63 | |||||||||||||||||
| Prepaid Rent | 1,500.00 | 1,500.00 | |||||||||||||||||
| Prepaid Insurance | 1,200.00 | 200.00 | 1,000.00 | ||||||||||||||||
| Baking Equipment | 5,000.00 | 5,000.00 | |||||||||||||||||
| Misc. Supplies | 600.00 | 550.00 | 50.00 | ||||||||||||||||
| Accounts Receivable | 10,300.00 | 10,300.00 | |||||||||||||||||
| Notes Payable | 10,000.00 | 10,000.00 | |||||||||||||||||
| Accounts Payable | 7,000.00 | 7,000.00 | |||||||||||||||||
| Wages Payable | 480.00 | 480.00 | |||||||||||||||||
| Common Stock | 20,000.00 | 20,000.00 | |||||||||||||||||
| Dividends | 3,000.00 | 3,000.00 | |||||||||||||||||
| Bakery Sales | 60,000.00 | 60,000.00 | |||||||||||||||||
| Merchandise Sales | 221.00 | 221.00 | |||||||||||||||||
| Baking Supplies Expense | 19,400.00 | 19,400.00 | |||||||||||||||||
| Rent Expense | 4,500.00 | 4,500.00 | |||||||||||||||||
| Insurance Expense | 200.00 | 200.00 | COMPLETION OF STEPS 5-7 DELIVERABLE: | ||||||||||||||||
| Misc. Expense | 250.00 | 250.00 | CONGRATULATIONS! YOU ARE NOW READY TO SUBMIT YOUR | ||||||||||||||||
| Business License Expense | 375.00 | 375.00 | WORKBOOK TO COMPLETE THE 4-3 CHECKPOINT REQUIREMENT | ||||||||||||||||
| Advertising Expense | 200.00 | 200.00 | |||||||||||||||||
| Wages Expense | 1,956.00 | 19,560.00 | |||||||||||||||||
| Telephone Expense | 90.00 | 90.00 | |||||||||||||||||
| COGS | 157.62 | 157.62 | |||||||||||||||||
| Depreciation Expense | 208.33 | 208.33 | |||||||||||||||||
| Accumulated Depreciation | 208.33 | 208.33 | |||||||||||||||||
| Misc Supplies Expense* | 550.00 | 550.00 | |||||||||||||||||
| Interest Expense* | 146.74 | 146.74 | |||||||||||||||||
| Interest Payable* | 146.74 | 146.74 | |||||||||||||||||
| 97,701.00 | 97,701.00 | 20,505.07 | 20,505.07 | 99,950.63 | 98,056.07 | ||||||||||||||
| – | |||||||||||||||||||
| *These accounts will not be utilized before the adjusting process. They should have zero balance in the unadjusted trial balance. | |||||||||||||||||||
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