Question: The trial balance of Yellow Car Sales Inc at June

The trial balance of Yellow Car Sales, Inc., at June 30, 2014, does not balance.


The accounting records hold the following errors:
a. Recorded a $600 cash revenue transaction by debiting Accounts Receivable. Te credit entry was correct.
b. Posted a $3,000 credit to Accounts Payable as $300.
c. Did not record utilities expense or the related account payable in the amount of $650.
d. Understated Common Stock by $200.
e. Omitted Insurance Expense of $1,800 from the trial balance.

Requirement
Prepare the correct trial balance at June 30, 2014, complete with a heading. Journal entries are notrequired.
View Solution:


Sale on SolutionInn
Sales0
Views131
Comments
  • CreatedJuly 25, 2014
  • Files Included
Post your question
5000