Question: The trial balance for Ocean Divers Exploration Company does not balance. The following errors were detected: a. The Cash balance is overstated by $ 1,000.
The trial balance for Ocean Divers Exploration Company does not balance.
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The following errors were detected:
a. The Cash balance is overstated by $ 1,000.
b. Rent Expense of $ 300 was erroneously posted as a credit rather than a debit.
c. A $ 6,000 credit to Service Revenue was not posted.
d. A $ 500 debit to Accounts Receivable was posted as $ 50.
e. The balance of Utilities Expense is understated by $ 90.
f. A $ 600 purchase of office supplies on account was neither journalized nor posted.
g. Computers should be $ 17,160.
Prepare the corrected trial balance at July 31, 2015. Journal entries are notrequired.
OCEAN DIVERS EXPLORATION COMPANY Trlal Balance July 31, 2015 Balance Account Title Cash Accounts Receivable Office Supplies Computers Expicration Equipment Accounts Payable Notes Payable Common Stock Dividends Service Ravenue Salanies Expense Rent Experse Advertising Expense Utilities Expense Total Debit 6,600 9,000 Credit 200 22.600 46,000 S 2,900 18,900 50,100 1,000 4.900 1,800 100 100 700 $88,100 76,800
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