The following trial balance of Oakley NV does not balance.

Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors.

1. Cash received from a customer on account was debited for €370, and Accounts Receivable was credited for the same amount. The actual collection was for €730.

2. The purchase of a computer printer on account for €500 was recorded as a debit to Supplies for €500 and a credit to Accounts Payable for €500.

3. Services were performed on account for a client for €890. Accounts Receivable was debited for €890 and Service Revenue was credited for €89.

4. A payment of €65 for telephone charges was recorded as a debit to Office Expense for €65 and a debit to Cash for €65.

5. When the Unearned Service Revenue account was reviewed, it was found that service revenue amounting to €225 was performed prior to June 30.

6. A debit posting to Salaries and Wages Expense of €670 was omitted.

7. A payment on account for €206 was credited to Cash for €206 and credited to Accounts Payable for €260.

8. A dividend of €575 was debited to Salaries and Wages Expense for €575 and credited to Cash for €575.

Instructions

Prepare a correct trial balance. It may be necessary to add one or more accounts to the trial balance.

Transcribed Image Text:

Oakley NV Trial Balance June 30, 2022 Debit Credit Cash € 2,870 Accounts Receivable € 3,231 Supplies 800 Equipment 3,800 Accounts Payable 2,666 Unearned Service Revenue 1,200 Share Capital-Ordinary 6,000 Retained Earnings 3,000 Service Revenue 2,380 Salaries and Wages Expense 3,400 Office Expense 940 €13,371 €16,916