The accountant for Evas Laundry prepared the following unadjusted and adjusted trial balances. Assume that all balances
Question:
The accountant for Eva’s Laundry prepared the following unadjusted and adjusted trial balances. Assume that all balances in the unadjusted trial balance and the amounts of the adjustments are correct. Identify the errors in the accountant’s adjusting entries, assuming that none of the accounts were affected by more than one adjusting entry.
Eva's Laundry Trial Balances Maу 31, 20Y3 Adjusted Credit Balances Unadjusted Debit Balances Credit Balances Debit Balances Cash 7,500 7,500 Accounts Receivable Laundry Supplies.. Prepaid Insurance" Laundry Equipment. Accumulated Depreciation-Laundry Equipment..... Accounts Payable Wages Payable. Eva Baldwin, Capital.. Eva Baldwin, Drawing Laundry Revenue Wages Expense Rent Expense Utilities Expense Depreciation Fxpense... Laundry Supplies Expense Insurance Expense Miscellaneous Expense 18,250 23,250 6,750 3,750 5,200 190,000 1,600 177,000 48,000 9,600 1,000 110,300 48,000 9,600 110,300 28,775 28,775 182,100 182,100 49,200 25,575 18,500 49,200 25,575 18,500 13,000 3,000 600 3,250 350,000 3,250 *53,600 of insurance expired during the year. 350,000 358,000 351,000
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Answer All working forms part of the answer Requirement 1 List Errors 1 Accounts receivables have in...View the full answer
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
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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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