Ex3.1.6 The following trial balance was prepared incorrectly, rearrange the accounts in proper order, Calculate the total of the trial balance. Assume each account has a normal balance TIMMONY CO....

Ex3.1.6<br>The following trial balance was prepared incorrectly, rearrange the accounts in proper order,<br>Calculate the total of the trial balance. Assume each account has a normal balance<br>TIMMONY CO.<br>TRIAL BALANCE<br>DECEMBER 31, 201X<br>Dr.<br>Cr.<br>D. Timmony, Capital<br>Equipment<br>Rent Expense<br>Advertising Expense<br>Accounts Payable<br>4800<br>1600<br>2500<br>500<br>800<br>Taxi Fees<br>1600<br>Cash<br>1500<br>D. Timmony, Withdrawals<br>1100<br>Totals<br>9500<br>|4900<br>On June 1, 2010, a telephone expense for $250 was debited to Repair Expense. On June 10,<br>2010, this error was found. Prepare the corrected journal entry. When would a correcting entry<br>not be needed?<br>

Extracted text: Ex3.1.6 The following trial balance was prepared incorrectly, rearrange the accounts in proper order, Calculate the total of the trial balance. Assume each account has a normal balance TIMMONY CO. TRIAL BALANCE DECEMBER 31, 201X Dr. Cr. D. Timmony, Capital Equipment Rent Expense Advertising Expense Accounts Payable 4800 1600 2500 500 800 Taxi Fees 1600 Cash 1500 D. Timmony, Withdrawals 1100 Totals 9500 |4900 On June 1, 2010, a telephone expense for $250 was debited to Repair Expense. On June 10, 2010, this error was found. Prepare the corrected journal entry. When would a correcting entry not be needed?

Jun 11, 2022

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Ex3.1.6 The following trial balance was prepared incorrectly, rearrange the accounts in proper order, Calculate the total of the trial balance. Assume each account has a normal balance TIMMONY CO....

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