The trial balance of Learn for Life Child Care does not balance.
The following errors are detected:
a. Cash is understated by $1,800.
b. A $3,900 debit to Accounts Receivable was posted as a credit.
c. A $ 1,200 purchase of office supplies on account was neither journalized nor posted.
d. Equipment was incorrectly transferred from the ledger as $89,300. It should have been transferred as $81,500.
e. Salaries Expense is overstated by $500.
£ A $600 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 $4,200.
i. A 12-month insurance policy was posted as a $1,300 credit to Prepaid Insurance. Cash was posted correctly.
Prepare the corrected trial balance as of May 31, 2017. Journal entries are not required.

  • CreatedJune 12, 2015
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