Below is the unadjusted trial balance for Dawson Designs at December 31, 2016 - the end of its first year in business.
(1) Identify the errors in the following trial balance. All accounts have normal balances.
(2) Prepare a corrected trial balance.

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Dawson Designs Unadjusted Trial Balance For the Year Ended December 31, 2016 Debit Balances Credit Balances Cash 23,000 Accounts Receivable 49,700 Prepaid Insurance 11,300 150,500 Equipment Accounts Payable Salaries Payable Capital Stock Dividends 6,050 4,250 110,000 18,500 Service Revenue 236,600 Salary Expense Miscellaneous Expense 98,930 4,970 Totals 424,020 424,020