The accountant for Rooster Laundry prepared the following unadjusted and adjusted trial balances. Assume that all balances in the unadjusted trial balance and the amounts of the adjustments are correct. Identify the errors in the accountant??s adjustingentries.

Transcribed Image Text:

Rooster Laundry Trial Balance January 31, 2010 Unadjusted Adjusted Credit Balances Debit Balances Credit Balances Debit Balances Cash 15,000 36,500 7,500 10,400 280,000 15,000 44,000 11,000 2,800 268,000 Accounts Receivable Laundry Supplies Prepaid Insurance* Laundry Equipment Accumulated Depreciation Accounts Payable Wages Payable Carlos Martinez, Capital Carlos Martinez, Drawing Laundry Revenue Wages Expense Rent Expense . Utilities Expense Depreciation Expense Laundry Supplies Expense Insurance Expense Miscellaneous Expense 96,000 19,200 96,000 19,200 2,400 120,600 120,600 57,550 57,550 364,200 364,200 98,400 51,150 37,000 98,400 51,150 37,000 12,000 3,500 1,600 6,500 608,500 6,500 600,000 600,000 602,400 *37,600 of insurance expired during the year.