The folowing trial balance of Watervray Co. doss nat balanca. WATERWAY cO. TRIAL BALANCE JUNE 30,...
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The folowing trial balance of Watervray Co. doss nat balanca. WATERWAY cO. TRIAL BALANCE JUNE 30, 2020 Debit Credit Cash $3.259 Accounts Receivable $2,852 Supplies 1,189 Equipmant 4,189 Accounts Payable 3,055 Unearned Service Revenue 1,589 Common Stock 6.389 Ratained iarnings 3,389 Service Revenua 2,769 Salaries and Wages Expense 3,789 Office Expense 1,329 Totals $14,937 $18,961 Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following arrors. 1. Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750. 2. The purchase of a computer printer on account for $889 was recorded as a debitto Supplies for $889 and a credit to Accounts Payable for $669. Services were performed on account for a client for $890. Accounts Raceivable vwas debited for $890 and Sarvice Ravenue 3. was credited for $89. 4. A payment of $70 for telephone charges was recordedas a debit to Offica Expense for $70 and a debit to Cash for $70. 5. When the Uncarned Service Revenue account was reviewed, it was found that service revenue amounting to $714 was performed prior to June 30 (related to Unearned Service Revenua). 6. A debit posting to Salaries and Wages Expense of $1,059 was omitted. 06 was credited to Cash for $206 and credited to Accounts Payable for $260. A dividend of $964 was debited to Salaries and Wages Expense for $964 and credited to Cash for $964. 7. A payment on account for 8. Prepare a corect trial balanca. WATERWAY Co. Trial Balance June 30, 2020 Debit Credit Cash 3359 Accounts Recelvable 2670 Supples 476 Egulpment 4902 Accounts Payable 2589 Unesmad Service Revenue 1051 Common Stock 6389 DMdenda 964 Retalned Earninga Service Revenue Salaries and Wagsa Expanaa Office Expenae Totals The folowing trial balance of Watervray Co. doss nat balanca. WATERWAY cO. TRIAL BALANCE JUNE 30, 2020 Debit Credit Cash $3.259 Accounts Receivable $2,852 Supplies 1,189 Equipmant 4,189 Accounts Payable 3,055 Unearned Service Revenue 1,589 Common Stock 6.389 Ratained iarnings 3,389 Service Revenua 2,769 Salaries and Wages Expense 3,789 Office Expense 1,329 Totals $14,937 $18,961 Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following arrors. 1. Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750. 2. The purchase of a computer printer on account for $889 was recorded as a debitto Supplies for $889 and a credit to Accounts Payable for $669. Services were performed on account for a client for $890. Accounts Raceivable vwas debited for $890 and Sarvice Ravenue 3. was credited for $89. 4. A payment of $70 for telephone charges was recordedas a debit to Offica Expense for $70 and a debit to Cash for $70. 5. When the Uncarned Service Revenue account was reviewed, it was found that service revenue amounting to $714 was performed prior to June 30 (related to Unearned Service Revenua). 6. A debit posting to Salaries and Wages Expense of $1,059 was omitted. 06 was credited to Cash for $206 and credited to Accounts Payable for $260. A dividend of $964 was debited to Salaries and Wages Expense for $964 and credited to Cash for $964. 7. A payment on account for 8. Prepare a corect trial balanca. WATERWAY Co. Trial Balance June 30, 2020 Debit Credit Cash 3359 Accounts Recelvable 2670 Supples 476 Egulpment 4902 Accounts Payable 2589 Unesmad Service Revenue 1051 Common Stock 6389 DMdenda 964 Retalned Earninga Service Revenue Salaries and Wagsa Expanaa Office Expenae Totals
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Related Book For
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
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