The trial balance for Silver Shovels Exploration Company does not balance.

The following errors were detected:

a. The cash balance is overstated by $3,000.

b. Rent expense of \($390\) was erroneously posted as a credit rather than a debit.

c. A \($6,200\) credit to Service revenue was not posted.

d. A \($300\) debit to Accounts receivable was posted as $30.

e. The balance of Utilities expense is understated by $40.

f. A \($200\) purchase of supplies on account was neither journalized nor posted.

g. Exploration equipment should be $23,910.

Requirement 

1.Prepare the corrected trial balance at September 30, 2012. Journal entries are not required.

Transcribed Image Text:

SILVER SHOVELS EXPLORATION COMPANY, INC. Trial Balance September 30, 2012 Account Debit Credit Cash $ 6,500 Accounts receivable 3,000 Supplies 800 Exploration equipment 22,700 Computers 45,000 Accounts payable $ 2,200 Note payable 18,100 Common stock 50,900 Dividends 1,000 Service revenue 4,000 Salary expense 1,700 Rent expense 400 Advertising expense 700 Utilities expense 300 Total $ 82,100 $ 75,200