This trial balance of Izo Co. does not balance.

balance.

(SO 8)

IZO CO.

Trial Balance June 30, 2007 Debit Credit Cash $ 2,180 Accounts Receivable $ 3,370 Supplies 800 Equipment 3,000 Accounts Payable 2,666 Unearned Revenue 1,200 Common Stock 9,000 Dividends 800 Service Revenue 3,480 Salaries Expense 3,600 Office Expense 910

$13,680 $17,326 Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: 1. Cash received from a customer on account was debited for $690, and Accounts Receivable was credited for the same amount. The actual collection was for $960. 2. The purchase of a printer on account for $340 was recorded as a debit to Supplies for

$340 and a credit to Accounts Payable for $340. 3. Services were performed on account for a client for $800. Accounts Receivable was debited for $80 and Service Revenue was credited for $800. 4. A debit posting to Salaries Expense of $500 was omitted. 5. A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260. 6. Payment of a $600 cash dividend to Izo’s stockholders was debited to Salaries Expense for $600 and credited to Cash for $600.

Tot. trial balance $15,880 Instructions Prepare the correct trial balance. (Hint: All accounts have normal balances.)

Journalize transactions, post,