Dao Vang, CPA, was retained by Ayayai to prepare financial statements for April 2019. Vang accumulated all the ledger balances per Uni records and found the following Ayayal Trial Balance April 30, 2019 Debit Credit Cash $3,900 Accounts Receivable 3,300 Supplies 700 Equipment 10,000 Accumulated Depreciation-Equip. $1,400 Accounts Payable 2,300 Salaries and Wages Payable 600 Unearned Service Revenue 800 Common Stock 9,300 Retained Earnings 2,500 Service Revenue 6.000 Salaries and Wages Expense 3,500 Advertising Expense 700 Miscellaneous Expense 250 Depreciation Expense 550 $22,900 $22.900 Depreciation Expense 550 $22,900 $22,900 Dao Vang reviewed the records and found the following errors. 1. Cash received from a customer on account was recorded as $680 instead of $580. 2. A payment of $75 for advertising expense was entered as a debit to Miscellaneous Expense $75 and a credit to Cash $75. 3. The first salary payment this month was for $1,900, which included $600 of salaries payable on March 31. The payment was recorded as a debit to Salaries and Wages Expense $1,900 and a credit to Cash $1,900. (No reversing entries were made on April 1.) 4. The purchase on account of a printer costing $400 was recorded as a debit to Supplies and a credit to Accounts Payable for $400. 5. A cash payment of repair expense on equipment for $76 was recorded as a debit to Equipment $42 and a credit to Cash $42. Prepare an analysis of each error showing the incorrect entry, the correct entry, and the correcting entry. Items 4 and 5 occurred on April 30. 2019. (Credit account titles are automatically indented when amount is entered. Do not Indent manually.) INCORRECT ENTRY Credit Debit No. Account Titles and Explanation 1. 2 TITULLILU-TUGUU INCORRECT ENTRY No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. un CORRECT ENTRY Credit Debit No. Account Titles and Explanation 1 K No. Account Titles and Explanation 1 Debit Credit 2. 3. 4. 5. CORRECTING ENTRY Credit Debit No. Account Titles and Explanation No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. e Textbook and Media List of Accounts ture.com/courses/1377185/assignments/6050017?module_item_id=14401506 $ Prepare a correct trial balance. (Do not list those accounts that have zero ending balance.) Ayayal Trial Balance Debit Credit $ Dao Vang, CPA, was retained by Ayayai to prepare financial statements for April 2019. Vang accumulated all the ledger balances per Uni records and found the following Ayayal Trial Balance April 30, 2019 Debit Credit Cash $3,900 Accounts Receivable 3,300 Supplies 700 Equipment 10,000 Accumulated Depreciation-Equip. $1,400 Accounts Payable 2,300 Salaries and Wages Payable 600 Unearned Service Revenue 800 Common Stock 9,300 Retained Earnings 2,500 Service Revenue 6.000 Salaries and Wages Expense 3,500 Advertising Expense 700 Miscellaneous Expense 250 Depreciation Expense 550 $22,900 $22.900 Depreciation Expense 550 $22,900 $22,900 Dao Vang reviewed the records and found the following errors. 1. Cash received from a customer on account was recorded as $680 instead of $580. 2. A payment of $75 for advertising expense was entered as a debit to Miscellaneous Expense $75 and a credit to Cash $75. 3. The first salary payment this month was for $1,900, which included $600 of salaries payable on March 31. The payment was recorded as a debit to Salaries and Wages Expense $1,900 and a credit to Cash $1,900. (No reversing entries were made on April 1.) 4. The purchase on account of a printer costing $400 was recorded as a debit to Supplies and a credit to Accounts Payable for $400. 5. A cash payment of repair expense on equipment for $76 was recorded as a debit to Equipment $42 and a credit to Cash $42. Prepare an analysis of each error showing the incorrect entry, the correct entry, and the correcting entry. Items 4 and 5 occurred on April 30. 2019. (Credit account titles are automatically indented when amount is entered. Do not Indent manually.) INCORRECT ENTRY Credit Debit No. Account Titles and Explanation 1. 2 TITULLILU-TUGUU INCORRECT ENTRY No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. un CORRECT ENTRY Credit Debit No. Account Titles and Explanation 1 K No. Account Titles and Explanation 1 Debit Credit 2. 3. 4. 5. CORRECTING ENTRY Credit Debit No. Account Titles and Explanation No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. e Textbook and Media List of Accounts ture.com/courses/1377185/assignments/6050017?module_item_id=14401506 $ Prepare a correct trial balance. (Do not list those accounts that have zero ending balance.) Ayayal Trial Balance Debit Credit $
