Question 5

(20 marks)

Ron Able formed Able Construction, a proprietorship. Ron Able attempted to produce a trial balance, and his trial balance did not balance:

Able Construction
Trial Balance
November 30, 2018
ACCOUNT	DEBIT	CREDIT
Cash	$ 2,100
Accounts Receivable	10,500
Supplies	1,400
Office Furniture	4,100
Land	47,100
Accounts Payable		$ 4,300
Notes Payable		23,500
Ron Able, Capital		32,100
Ron Able, Withdrawals	2,500
Consulting Service Revenue		7,800
Advertising Expense	900
Rent Expense	1,500
Salary Expense	2,600
Utilities Expense	910
Total	$ 73,610	$ 67,700

Able Constructions accountant, Sue Smart, uncovered the following errors:

1. The cash balance is over stated by $ 150.
2. The cost of the land was $ 43,100, not $ 47,100.
3. A $ 500 purchase of supplies on account was neither journalized nor posted.
4. A $ 2,000 credit to Consulting Service Revenue was not posted.
5. Rent Expense of $ 300 was posted as a credit rather than a debit.
6. The balance of Salary Expense is $ 2,400, but it was listed as $ 2,600 on the trial balance.
7. A $ 500 debit to Accounts Receivable was posted as $ 50. The credit to Consulting Service Revenue was correct.
8. The balance of Utilities Expense was overstated by $ 610.
9. A $ 700 debit to the Ron Able, Withdrawals account was posted as a debit to Ron Able, Capital.

Required:

Prepare Able Constructions correct trial balance at November 30, 2018. Show your calculations. Journal entries are not required.