The following trial balance of Brian's Pickle Co for June 30, 2010 does not balance. Cash...

 

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The following trial balance of Brian's Pickle Co for June 30, 2010 does not balance. Cash $21,860 Accounts Receivable 35,000 Supplies 3,640 Building 51,000 Note Payable Owners' Equity Retained Earnings Revenue Expenses Total 25,000 $136,500 $15,500 30,000 10,000 39,500 Prepare a corrected trial balance! $95,000 The following errors were discovered: A purchase of supplies for cash was posted as $40 when it should have been $400. The first two numbers of the amount for notes payable were transposed while being copied from the account balance to the trial balance. The correct amount of Notes Payable should be $51,500. A collection of cash was debited to the cash account in the amount of $5,500 but was not credited to the Revenue account. A purchase of supplies for $725 on account was not recorded. Instructions: The following trial balance of Brian's Pickle Co for June 30, 2010 does not balance. Cash $21,860 Accounts Receivable 35,000 Supplies 3,640 Building 51,000 Note Payable Owners' Equity Retained Earnings Revenue Expenses Total 25,000 $136,500 $15,500 30,000 10,000 39,500 Prepare a corrected trial balance! $95,000 The following errors were discovered: A purchase of supplies for cash was posted as $40 when it should have been $400. The first two numbers of the amount for notes payable were transposed while being copied from the account balance to the trial balance. The correct amount of Notes Payable should be $51,500. A collection of cash was debited to the cash account in the amount of $5,500 but was not credited to the Revenue account. A purchase of supplies for $725 on account was not recorded. Instructions:

Answer rating: 100% (QA)

Trial Balance Particulars Debit Credit Cash 21860 Ac... View the full answer