Identify the errors in the following trial balance. All accounts have normalbalances. Mascot Co. Unadjusted Trial Balance
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Identify the errors in the following trial balance. All accounts have normalbalances.
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Mascot Co. Unadjusted Trial Balance For the Month Ending July 31, 2014 Debit Balances Credit Balance5 112,600 7,500 100,000 197,200 17,000 682,000 Dividends 73,000 11,600 1,189,300 1,189,300
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1 The Debit column total is added incorrectly The sum is 890700 rather than 1189300 2 T...View the full answer
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Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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