Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Cong NOW wine rachi now.com/km/takeAssignment/takeAssignmenin doinvoker takeAssignmentSessionLocator Berg Corrected Trial Balance The Colby Group has the following unadjusted that balance as of August 31, 2019:
Cong NOW wine rachi now.com/km/takeAssignment/takeAssignmenin doinvoker takeAssignmentSessionLocator Berg Corrected Trial Balance The Colby Group has the following unadjusted that balance as of August 31, 2019: Credit Balances Cash The Colby Group Unadjusted Trial Balance August 31, 2019 Debit Balances 17,300 37,000 7,400 1,900 196,000 Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Terry Colby, Capital Terry Colby, Drawing Fees Eamed Wages Expense Rent Expense Advertising Expense Miscellaneous Expense 97,600 26,000 129,150 56,000 454,450 270,000 51,800 25,200 5,100 667,700 707,200 wick My Work The cash on the trial balance was understated by $4,000 t. A csheet of $5,000 as posted as a bit to Cash of $6,500 At of $11,000 to Acrete was not posted Art of $150 of defective supplies was erroneously posted a $1,500 credit to Supplies e Animate policy acred at a cost of $1.200 was posted as a credit to Prepand Insurance 1. The balance Notes Payable was understated by $20,000 Acredit of 54,800 Accounts Payable was overlooked when determ the blanc of the h. A debt of $7,000 for a withdrawal by the owner was posted as a credit tolery Colby, Captal The balance of $58,100 in expense entered as $51.100 in the trial balance 1. Gas, Clectricity and Water Expert, with a balance 574,150, was mitted from the trial balance Required: A BLANKSHEET 1. Prepare a contraste trebalance as of just 31, 2015. If an amount bow does not require an entry, wit blant The Colly Group Unded Trial Balance Cred Talances sex hepai 3.100 x 1000 117 AD Nos Payable Accounts Payable 30.00 12910 45.450 270.00 SS.LDO 25.200 Gallery and Wale 24.150 5.100 We welcome afected by the enor Aleach monterach cation to the com bem wycoforeacher there counts should be 2. Does the that the wasted trial bance (1) is balanced mean that there are no ros in the No
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started