E2-33B. (Learning Objective 5: Correcting errors in a trial balance) The trial balance of Farris, Inc., at
Question:
E2-33B. (Learning Objective 5: Correcting errors in a trial balance) The trial balance of Farris, Inc., at June 30, 20X6, does not balance.
The accounting records hold the following errors:
a. Recorded a €300 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 €200.
e. Omitted Insurance Expense of €3,100 from the trial balance.
Requirement 1. Prepare the correct trial balance at June 30, 20X6, complete with a heading. Journal entries are not required.
Step by Step Answer:
Financial Accounting International Financial Reporting Standards Global Edition
ISBN: 9781292211145
11th Edition
Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison