Question: The trial balance for Kilda Services Inc at the end

The trial balance for Kilda Services, Inc., at the end of July follows. It does not balance because of a number of errors. Kilda’s accountant compared the amounts in the trial balance with the ledger, recomputed the account balances, and compared the postings. She found the following errors:
a. The balance of Cash was understated by $1,600.
b. A cash payment of $840 was credited to Cash for $480.
c. A debit of $240 to Accounts Receivable was not posted.
d. Supplies purchased for $120 were posted as a credit to Supplies.
e. A debit of $360 to Prepaid Insurance was not posted.
f. The Accounts Payable account had debits of $10,640 and credits of $18,360.
g. The Notes Payable account, with a credit balance of $4,800, was not included on the trial balance.
h. The debit balance of Dividends was listed in the trial balance as a credit.
i. A $400 debit to Dividends was posted as a credit.
j. The actual balance of Utilities Expense, $520, was listed as $52 in the trial balance.

Prepare a corrected trialbalance.

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  • CreatedSeptember 10, 2014
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