On January 1, 2017, Paula Fernandes started a new business called Wicked Dance. Near the end of the year, she hired a new bookkeeper without checking references or requesting an academic transcript. As a result, a number of mistakes have been made in preparing the following trial balance:

Paula€™s analysis of the situation has uncovered these errors:
a. The sum of the debits in the Cash account is $37,175 and the sum of the credits is $30,540.
b. A $275 payment from a credit customer was posted to Cash but was not posted to Accounts Receivable.
c. A credit purchase of office supplies for $400 was not posted at all. d. A transposition error occurred in copying the balance of the Services Revenue account to the trial balance. The correct amount was $23,250. Other errors were made in placing account balances in the wrong trial balance columns and in taking the totals of the columns.

Required 

Prepare a corrected trial balance.

Transcribed Image Text:

Wicked Dance Trial Balance December 31, 2017 Credit Debit $ 5,500 Cash ... $ 7,900 Accounts receivable Office supplies 2,650 .... Office equipment Accounts payable .... 20,500 9,465 Paula Fernandes, Capital 16,745 Services revenue 22,350 6,000 Wages expense Rent expense 4,800 Advertising expense 1,250 Totals $45,395 $52,340