The following trial balance of Wanda Landowska Company does not balance. Your review of the ledger reveals the following. (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated $100. (c) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2,750 and $6,690, respectively. (d) A debit posting to Advertising Expense of $300 was omitted. (e) A $1,500 cash drawing by the owner was debited to Owner?s Capital and credited to Cash.

Instructions

Prepare a correct trial balance.

Transcribed Image Text:

Wanda Landowska Company Trial Balance April 30, 2020 Debit Credit $ 4,800 Cash Accounts Receivable 2,570 Prepaid Insurance Equipment Accounts Payable Property Taxes Payable Owner's Capital 700 $ 8,000 4,500 560 11,200 Service Revenue 6,960 Salaries and Wages Expense Advertising Expense Property Tax Expense 4,200 1,100 800 $20,890 $24,500