Question: Errors in Trial Balance Identify the errors in the following trial balance. All accounts have normal balances Mascot Co. Unadjusted Trial Balance For the Month
Errors in Trial Balance Identify the errors in the following trial balance. All accounts have normal balances Mascot Co. Unadjusted Trial Balance For the Month Ending July 31, 2019 Debit Balances Credit Balances Cash Accounts Receivable Prepaid Insurance Equipment Accounts Payable Salaries Payable Samuel Parson, Capital Samuel Parson, Drawing Fees Earned Salary Expense Advertising Expense Miscellaneous Expense 36,000 112,600 18,000 375,000 53,300 7,500 297,200 17,000 682,000 396,800 73,000 11,600 1,189,300 1,189,300 After identifying the errors, prepare a corrected unadjusted trial balance. For those boxes in which no entry is required, leave the box blank
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
