Anew accounting clerk for CalTech Corporation prepared the following trial balance using the general ledger account balances listed below.

1, Total the trial balance columns for the accounting clerk. If total debits do not equal credits, check your addition.

2. Review CalTech’s trial balance for accuracy and make needed corrections. Re-total the trial balance columns.

Continue checking until total debits = total credits.

3. Prepare a list identifying the general types of errors made.

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Gen. Ledger Account Title Trial Balance 42,370.00 10,500.00 Cash 4,237.00 Accts. Receivable 10,500.00 1,500.00 All. for Uncoll. Accts. 1,500.00 30,510.00 Mdse. Inventory 30,510.00 11,220.00 Office Equipment 11,220.00 1,350.00 Acc. Depr.-Off. Equip. 1,350.00 27,840.00 Accounts Payable 274,800.00 10,000.00 Dividends Payable 40,000.00 Capital Stock 10,000.00 40,000.00 2,150.00 Retained Earnings 2,150.00 10,000.00 Dividends 10,000.00 Income Summary 136,540.00 Sales 163,540.00 1,120.00 Sales Discount 1,120.00 780.00 Sales Ret. & Allow. 780.00 48,230.00 Purchases 48,230.00 1,850.00 Purchases Discount 1,850.00 20,000.00 Advertising Expense 40,500.00 Rent Expense 40,500.00 6,000.00 Federal Inc. Tax Exp. 6,000.00 Totals