BAF3M1 Chapter 4 Worksheet

Exercises 1. Mr. J. Strom is the owner of a hardware store in Shelburne, Nova Scotia. At the end of the year, he attempted to prepare a trial balance of the accounts in the general ledger. The trial balance appears below. The balances them- selves are correct but Mr. Strom has no knowledge of double-entry book. keeping so he has made many errors in listing the balances. J.STROM TRIAL BALANCE DECEMBER 31. 20- Debit Credit Bank 3 000 Land 250 000 A/R - Jones 10 940 Supplies 3 400 Office Equipment 15 350 Automobile 21 200 Building 240 000 A/P - Smith 5 160 Bank Loan 52 000 J. Strom, Capital 208 230 Mortgage Payable 278 500 516 910 570 870 Find the errors and prepare a corrected trial balance. Assume that no exceptional balances exist from overpayments. 2. The ledger for C. Hernandez, as of June 30, 20-, is given below. AIR AIR AIR Bank P. Ono G. Slaught R. Tamo 5 000 850 1 124 3 500 A/P Supplies Equipment Automobiles J. Batt 1 585 25 350 22 600 785 A/P C. Hernandez W. Parker H. White Bank Loan Capital 1000 1200 25 000 32 224 Prepare a trial balance for C. Hernandez for June 30, 20-. 3. The accounts and balances of Ceco Co. are arranged below in alphabetical order. Accounts Balances A/P - Jondahl Co. 1 350 A/P - P. Swartz 4 250 A/R - M. Legris 3 500 A/R - W. Nishi 850 Automobile 22 500 Bank 7 000 Bank Loan 10 000 C. Oke, Capital 27 471 Equipment 7 296 Supplies 1 925 Prepare a trial balance for Ceco Co. with the accounts arranged in normal ledger order. Remember to write in the three-part heading. Date the trial balance June 30 of this year