The trial balance of Building Blocks Child Care does not balance.

The following errors are detected:
a. Cash is understated by $ 4,000.
b. A $ 2,000 debit to Accounts
c. A $ 1,200 purchase of office supplies on account was neither journalized nor posted.
d. Equipment was incorrectly transferred from the ledger as $ 88,000. It should have been transferred as $ 87,700.
e. Salaries Expense is overstated by $ 100.
f. A $ 300 cash payment for advertising expense was neither journalized nor posted.
g. A $ 100 cash dividend was incorrectly journalized as $ 1,000.
h. Service Revenue was understated by $ 4,000.
i. A 12-month insurance policy was posted as a $ 2,000 credit to Prepaid Insurance. Cash was posted correctly.

Prepare the corrected trial balance as of May 31, 2015. Journal entries are not required.

  • CreatedJanuary 16, 2015
  • Files Included
Post your question