The trial balance for Gold Rush Exploration Company, Inc. does not balance.

The following errors were detected:

a. The cash, balance is overstated by \($2,000\).

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

c. A \($6,600\) credit to Service revenue was not posted.

d. A \($200\) debit to Accounts receivable was posted as \($20\).

e. The balance of Utilities expense is understated by \($10\).

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

g. Exploration equipment should be \($19,130\).

Requirement 

1. Prepare the corrected trial balance at October 31, 2012. Journal entries are not required.

Transcribed Image Text:

GOLD RUSH EXPLORATION COMPANY, INC. Trial Balance October 31, 2012 Account Debit Credit Cash $ 6,200 Accounts receivable 1,000 Supplies 700 Exploration equipment 22,400 Computers 46,000 Accounts payable $ 2,500 Note payable 18,400 Common stock 50,800 Dividends 8,000 Service revenue 4,200 Salary expense 1,200 Rent expense 500 Utilities expense NY Total Advertising expense $ 86,800 $ 75,900 700 100