Corrected trial balance Tech Support Services has the following unadjusted trial balance as of January 31.20Y5: Debit Balances Credit Balances Cash 25,550 Accounts Receivable 44,050 Supplies 6,660...


Corrected trial balance



Tech Support Services has the following unadjusted trial balance as of January 31.20Y5:

















































































Debit Balances





Credit Balances



Cash



25,550





Accounts Receivable



44,050





Supplies



6,660





Prepaid Insurance



3,600





Equipment Notes Payable



162,000



75,000



Accounts Payable





13,200



Common Stock





18,000



Retained Earnings Dividends



33,000



83,850



Fees Earned Wages Expense



306,000



$34,000



Rent Expense



62,550





Advertising Expense



23,850





Gas, Electricity, and Water Expense



17,000







684,260



724,050




The debit and credit totals are not equal as a result of the following errors:





  1. A cash receipt of $4,100 was posted as a debit to Cash of $1,400.

  2. A debit of $12350 to Accounts Receivable was not

  3. A return of $235of defective supplies was erroneously posted as a $325 credit to Supplies.

  4. An insurance policy acqtured at a cost of $3,000 was posted as a credit to Prepaid

  5. The balance of Notes Payable was overstated by $000.

  6. A credit of $3,450 in Accounts Payable was overlooked when the balance of the account was determjned.

  7. A debit of $6,000 for ilividends was posted as a debit to Retafoed Earnings.


i.The balance of $28,350 in Advertising Expense was entered as


$23,850 in the trial balance.



  1. Miscellaneous Rxpense,with a balance of $4,600,was omitted from the trial balance.



Instructions




  1. Prepare a corrected unadjusted trial balance as of January 31, 20Y5.


2.-Does the fact that tire unadjusted trial balance in (1) is balanced mean that there are no errors in the accounts? Explain




Jun 10, 2022
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