Question: Resolving Errors and Correcting a Trial Balance Assume we examine the accounts of Century Inc. and identify the following four en errors 1. Equipment purchased
Resolving Errors and Correcting a Trial Balance Assume we examine the accounts of Century Inc. and identify the following four en errors 1. Equipment purchased for $82,500 at year-end was debited to Expenses. 2. Sales on credit of $9,119 were debited to accounts Receivable for $9,812 and credited to Revenues for 59,119. 3. A $66,000 cash collection on accounts receivable was debited to Cash and credited to Revenues. 4. The inventory amount is understated by $22,000 because the entry to record the purchase of inventory was incorrectly recorded in cos The unadjusted trial balance of Century Inc. is provided below. Prepare a corrected unadjusted trial balance. Note: Do not use negative sign in your answers. Unadjusted Trial Balance Corrected Unadjusted Trial Balance Credit 5 Debit Credit 5 Debit $391.193 341.000 22.000) 0.5 0 0 0 0 0 Accounts Caso Accounts receivable Allowance for doubtful accounts Inventory Equipment Accumulated depreciation Accounts payable Notes payable Commons 190.000 0 0 1.996,500 0 0 132.000 100.000 0 O 0 D 0 275.000 100 000 754.000 115.000 0 0 0 Ron Expenses 0 O 600.000 53156693 156-1000 OS 0 0
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