Journal entries and a trial balance for Fred Phaler Consulting follow. As you will note, the trial balance does not balance, suggesting that there are errors. Recall that the chapter offers tips on identifying individual posting errors. These techniques are not as effective when there are two or more errors. Thus, you will need to first carefully inspect the trial balance to see if you can identify any obvious errors due to amounts that either look out of proportion or are simply reported in the wrong place. Then, you will need to carefully evaluate the other amounts by using the techniques offered in the text, or tracing the journal entries to the amounts reported on the trial balance.

REQUIRED
1. Find the errors.
2. Explain what caused the errors.
3. Prepare a corrected trial balance.

GENERAL JOURNAL PACE 1 POST. DESCRIPTION DEBIT DATE CPET REE 1 une 1 Cash 10 000 00 101 10 000 00 2 Fred Phaler, Capital 311 500 00 2 Rent Expense 521 500 00 5 6 Cash 101 4000 00 3 Cash 101 400 0 00 8 Professional Fees 401 9. |10000 4 Utilities Expense 10 533 10 100 00 11 11 Cash 101 12 12 3000 00 7 Cash 13 101 13 3000 00 14 14 Professional Fees 401 15 15 12 Automobile Expense 50 00 16 526 16 50 00 17 17 Cash 101 18 18 14 Wages Expense 300 00 19 511 19 500 00 20 21 20 Cash 101 21 14 Office Supplies Accounts Payable 250 00 22 142 22 250 00 23 23 202 24 24 20 Telephone Expense 100 00 25 525 25 100 00 26 26 Cash 101 27 27 1200 00 21 Fred Phaler, Drawing 28 312 28 1200 00 29 29 Cash 101 30 30 20 00 00 31 2000 00 32 33 31 24 Accounts Receivable 122 32 Professional Fees 401 33 100 00 25 Accounts Payable 34 202 34 100 00 35 Cash 35 101 36 36 30 Wages Expense 300 00 37 300 00 38 37 511 38 Cash 101