The trial balance of Farris, Inc., at June 30, 2010, does not balance.

The accounting records hold the following errors:

a. Recorded a $200 cash revenue transaction by debiting Accounts Receivable. The credit entry was correct.

b. Posted a $2,000 credit to Accounts Payable as $200.

c. Did not record utilities expense or the related account payable in the amount of $300.

d. Understated Common Stock by $100.

e. Omitted Insurance Expense of $3,300, from the trial balance.

Requirement

1. Prepare the correct trial balance at June 30, 2010, complete with a heading. Journal entries are not required.

Transcribed Image Text:

$ 4,100 Cash.. 13,300 Accounts receivable. 16,500 Inventory... Supplies.. 700 53,000 Land. Accounts payable. $12,400 Common stock. 47,800 Service revenue. 31,900 Salary expense.. Rent expense Utilities expense. 2,200 600 300 $90,700 $92,100 Total..