The following trial balance of Joy McDowell Tutoring Service, Inc., at May 31, 2012, does not balance:

Question:

The following trial balance of Joy McDowell Tutoring Service, Inc., at May 31, 2012, does not balance:

JOY MCDOWELL TUTORING SERVICE, INC. Trial Balance May 31, 2012 Debit $ 3,000 Credit Account Cash Accounts receivable Sup

Investigation of the accounting records reveals that the bookkeeper:
a. Recorded a $500 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 $400.
d. Understated Common stock by $600.
Requirement
1. Prepare the corrected trial balance at May 31, 2012, complete with a heading; journal entries are notrequired.

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Related Book For  book-img-for-question

Accounting

ISBN: 9780132439602

7th Edition

Authors: Charles T. Horngren, Walter T. Harrison

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