The trial balance of Sam's Deli Inc. at October 31, 2014, does not balance:

The accounting records contain the following errors:
a. Recorded a $1,000 cash revenue transaction by debiting Accounts Receivable. The credit entry was correct.
b. Posted a $1,000 credit to Accounts Payable as $100.
c. Did not record utilities expense or the related account payable in the amount of $200.
d. Understated Share Capital by $1,100.
e. Omitted insurance expense of $1,000 from the trial balance.
Requirement
Prepare the correct trial balance at October 31, 2014, complete with a heading. Journal entries are not required.

Transcribed Image Text:

4,200 13,000 17,000 600 55,000 Cash Supplies Land Axaya Share capital Sales revenue Salary expense Rent expense Utilities expense. $12,000 47,900 32,100 1,700 800 700 $93,000 Total $92,000