This trial balance of Lindbergh Company does not balance.

Your review of the ledger reveals that each account has a normal balance. You also discover the following errors.
The totals of the debit sides of Prepaid Insurance, Accounts Payable, and Income Tax Expense were each understated $100.
Transposition errors were made in Accounts Receivable and Service Revenue. Based on postings made, the correct balances were $2,570 and $7,960, respectively.
A debit posting to Salaries and Wages Expense of $500 was omitted.
A $600 cash dividend was debited to Common Stock for $600 and credited to Cash for $600.
A $350 purchase of supplies on account was debited to Equipment for $350 and credited to Cash for $350.
A cash payment of $490 for advertising was debited to Advertising Expense for $49
And credited to Cash for $49
A collection from a customer for $240 was debited to Cash for $240 and credited to
Accounts Payable for $240.
Prepare the correct trial balance, assuming all accounts have normalbalances.

  • CreatedApril 07, 2014
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